Fjell Capital LLC Purchases 3,991 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fjell Capital LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 38.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,278 shares of the semiconductor manufacturer's stock after purchasing an additional 3,991 shares during the quarter. Broadcom comprises approximately 2.4% of Fjell Capital LLC's portfolio, making the stock its 15th biggest holding. Fjell Capital LLC's holdings in Broadcom were worth $2,391,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares in the last quarter. Nebula Research & Development LLC boosted its position in shares of Broadcom by 1,100.8% in the fourth 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 during the period. Kovack Advisors Inc. grew its stake in Broadcom by 8.1% during the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after acquiring an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in 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 during the period. Finally, Coppell Advisory Solutions LLC lifted its stake in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.4%

Shares of AVGO stock opened at $259.93 on Friday. The business has a 50-day moving average of $202.16 and a 200 day moving average of $205.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The stock has a market capitalization of $1.22 trillion, a PE ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the firm posted $10.96 earnings per share. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday. Benchmark reaffirmed a "buy" rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Mizuho lifted their price target on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Finally, Bank of America cut their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $246.00.

Broadcom Company 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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