International Assets Investment Management LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

International Assets Investment Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,820 shares of the semiconductor manufacturer's stock after acquiring an additional 6,017 shares during the period. International Assets Investment Management LLC's holdings in Broadcom were worth $9,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Invesco LLC purchased a new position in shares of Broadcom during the 1st quarter valued at about $1,960,000. Proactive Wealth Strategies LLC raised its stake in shares of Broadcom by 34.9% during the 1st quarter. Proactive Wealth Strategies LLC now owns 1,206 shares of the semiconductor manufacturer's stock valued at $202,000 after buying an additional 312 shares during the last quarter. Balboa Wealth Partners raised its stake in shares of Broadcom by 27.7% during the 1st quarter. Balboa Wealth Partners now owns 14,380 shares of the semiconductor manufacturer's stock valued at $2,408,000 after buying an additional 3,117 shares during the last quarter. Win Advisors Inc. raised its stake in shares of Broadcom by 3.8% during the 1st quarter. Win Advisors Inc. now owns 5,089 shares of the semiconductor manufacturer's stock valued at $852,000 after buying an additional 184 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its stake in shares of Broadcom by 1.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 2,737,242 shares of the semiconductor manufacturer's stock valued at $458,296,000 after buying an additional 52,107 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Barclays lifted 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, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $281.25.

Broadcom Price Performance

Shares of Broadcom stock traded down $0.82 on Friday, hitting $269.35. 27,450,264 shares of the company were exchanged, compared to its average volume of 28,910,988. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a 50-day moving average price of $229.43 and a 200 day moving average price of $215.50. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $271.85. 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 the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.96 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its board has approved a stock buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 811,716 shares of company stock worth $209,906,771 in the last ninety days. 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.