Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,067 shares of the semiconductor manufacturer's stock after buying an additional 1,417 shares during the period. Focus Financial Network Inc.'s holdings in Broadcom were worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. SlateStone Wealth LLC raised its position in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the period. DT Investment Partners LLC raised its holdings in shares of Broadcom by 0.9% in the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after acquiring an additional 50 shares in the last quarter. Bfsg LLC lifted its stake in Broadcom by 12.5% in the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after acquiring an additional 50 shares during the period. Finally, Global Strategic Investment Solutions LLC lifted its stake in Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after acquiring an additional 50 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $2.57 on Thursday, hitting $255.48. 11,079,107 shares of the company were exchanged, compared to its average volume of 30,887,126. 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 stock's 50 day moving average price is $209.12 and its 200 day moving average price is $207.94. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 208.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 0.92%. Broadcom's dividend payout ratio is currently 88.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVGO shares. Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Citigroup lifted their price objective on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday. JPMorgan Chase & Co. upped their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Two investment 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $272.71.

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.