Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Impax Asset Management Group plc

Impax Asset Management Group plc boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,968 shares of the semiconductor manufacturer's stock after purchasing an additional 1,544 shares during the period. Impax Asset Management Group plc's holdings in Broadcom were worth $18,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. SlateStone Wealth LLC increased its holdings in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after buying an additional 47 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the period. Cascade Financial Partners LLC grew its stake in shares of Broadcom by 1.8% in the fourth quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock worth $668,000 after acquiring an additional 50 shares during the period. Samalin Investment Counsel LLC grew its stake in shares of Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after acquiring an additional 50 shares during the period. Finally, Mizuho Bank Ltd. grew its position in Broadcom by 7.1% in the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock worth $174,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Broadcom stock traded up $4.97 during midday trading on Friday, reaching $274.87. 10,592,655 shares of the stock traded hands, compared to its average volume of 28,575,138. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The stock's fifty day moving average is $238.77 and its 200-day moving average is $217.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the firm earned $10.96 earnings per share. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced 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 outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% 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, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,716 shares of company stock worth $221,433,761 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on AVGO shares. Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Oppenheimer boosted their price target on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. UBS Group boosted their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Barclays boosted their price target on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Benchmark boosted their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $281.46.

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.