Farther Finance Advisors LLC Has $10.18 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Farther Finance Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,417 shares of the semiconductor manufacturer's stock after acquiring an additional 8,891 shares during the quarter. Farther Finance Advisors LLC's holdings in Broadcom were worth $10,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Tallon Kerry Patrick bought a new position in Broadcom in the 4th quarter worth approximately $357,000. Capital & Planning LLC boosted its position in shares of Broadcom by 15.3% in the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC grew its stake in shares of Broadcom by 18.7% in the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after acquiring an additional 12,345 shares during the last quarter. Brighton Jones LLC increased its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Broadcom during the 4th quarter valued at $71,312,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AVGO shares. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday. Benchmark raised their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Mizuho increased their price target on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $272.71.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded up $0.35 on Tuesday, hitting $244.63. 25,457,534 shares of the company were exchanged, compared to its average volume of 31,006,245. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The firm has a 50 day moving average of $205.17 and a two-hundred day moving average of $207.37. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.15 trillion, a P/E ratio of 199.54, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned $10.96 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom's payout ratio is 88.39%.

Broadcom announced that its board has approved a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.