FFG Partners LLC Acquires 55,153 Shares of Broadcom Inc. (NASDAQ:AVGO)

FFG Partners LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,784.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,134 shares of the semiconductor manufacturer's stock after purchasing an additional 55,153 shares during the quarter. Broadcom accounts for 3.9% of FFG Partners LLC's holdings, making the stock its 13th biggest position. FFG Partners LLC's holdings in Broadcom were worth $9,566,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after buying an additional 18,845 shares in the last quarter. Nebula Research & Development LLC lifted its stake in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Kovack Advisors Inc. boosted its position in Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after acquiring an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after acquiring an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Broadcom by 1,512.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Benchmark increased their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $281.25.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider now directly owns 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,468 shares of company stock valued at $74,670,250 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $264.65 on Thursday. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $269.87. The company has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 99.12, a PEG ratio of 1.88 and a beta of 1.11. The company has a 50-day simple moving average of $225.48 and a 200 day simple moving average of $213.98. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the business posted $10.96 earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.89%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its Board of Directors has approved a share buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually 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.

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