Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,421 shares of the semiconductor manufacturer's stock after purchasing an additional 5,023 shares during the quarter. IFP Advisors Inc's holdings in Broadcom were worth $8,948,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AVGO. Vanguard Group Inc. grew its stake in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the period. Geode Capital Management LLC grew its stake in Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC grew its stake in Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the period. Norges Bank bought a new stake in shares of Broadcom in the fourth quarter valued at about $16,893,010,000. Finally, Northern Trust Corp lifted its holdings in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America upped their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Mizuho raised their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Barclays raised their target price on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $292.08.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,224,641 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.7%

Shares of AVGO traded up $1.98 on Wednesday, reaching $280.57. The stock had a trading volume of 8,103,191 shares, compared to its average volume of 27,653,369. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $290.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 104.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12. The company has a 50-day simple moving average of $254.41 and a 200-day simple moving average of $220.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.96 EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.84%. Broadcom's dividend payout ratio is 88.39%.

Broadcom declared that its board has initiated a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

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.