Goldstein Advisors LLC Purchases 2,461 Shares of Broadcom Inc. (NASDAQ:AVGO)

Goldstein Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 66.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,162 shares of the semiconductor manufacturer's stock after acquiring an additional 2,461 shares during the quarter. Goldstein Advisors LLC's holdings in Broadcom were worth $1,032,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC grew its holdings in shares of Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after buying an additional 47 shares during the last quarter. True Wealth Design LLC lifted its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares in the last quarter. Global Strategic Investment Solutions LLC boosted its stake in Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. Cascade Financial Partners LLC boosted its stake in Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after purchasing an additional 50 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its holdings in Broadcom by 1.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after purchasing an additional 50 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was 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 the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,716 shares of company stock worth $221,433,761 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Evercore ISI restated an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Mizuho lifted their price objective on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Benchmark increased their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $281.25.

Broadcom Stock Performance

AVGO traded up $6.30 during trading hours on Monday, hitting $275.65. The stock had a trading volume of 24,688,814 shares, compared to its average volume of 28,894,178. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $277.71. The company's fifty day simple moving average is $231.62 and its 200 day simple moving average is $216.10. The stock has a market cap of $1.30 trillion, a PE ratio of 103.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $10.96 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

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.