Insight Advisors LLC PA Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Insight Advisors LLC PA lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,361 shares of the semiconductor manufacturer's stock after acquiring an additional 1,358 shares during the period. Broadcom accounts for approximately 1.0% of Insight Advisors LLC PA's investment portfolio, making the stock its 14th biggest holding. Insight Advisors LLC PA's holdings in Broadcom were worth $5,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 3,018,294 shares during the last quarter. FMR LLC boosted its holdings 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 purchasing an additional 2,873,809 shares during the last quarter. Norges Bank purchased a new stake in Broadcom in the fourth quarter valued at $16,893,010,000. Finally, Northern Trust Corp boosted its holdings in 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 during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVGO. Wells Fargo & Company upped their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday. Mizuho increased their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup reissued a "buy" rating and set a $276.00 target price (up from $210.00) on shares of Broadcom in a research note on Tuesday. Rosenblatt Securities increased their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $270.25.

Broadcom Stock Performance

NASDAQ AVGO traded down $12.98 on Friday, hitting $246.95. 41,055,118 shares of the company's stock were exchanged, compared to its average volume of 30,997,545. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm's 50-day moving average price is $202.16 and its two-hundred day moving average price is $205.65. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the previous year, the firm posted $10.96 EPS. The firm's quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 113.46%.

Broadcom announced that its Board of Directors has approved a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the sale, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Company insiders own 2.00% of the company's stock.

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.