Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Liontrust Investment Partners LLP

Key Points

• Liontrust Investment Partners LLP increased its stake in Broadcom Inc. by 24.8%, owning 265,923 shares valued at approximately $44.52 million.
• Broadcom reported quarterly earnings of $1.58 per share, exceeding analyst expectations, with a year-over-year revenue increase of 20.2% to $15 billion.
• The company announced a quarterly dividend of $0.59 per share, reflecting a 0.8% dividend yield and an 88.39% payout ratio.

Liontrust Investment Partners LLP boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,923 shares of the semiconductor manufacturer's stock after buying an additional 52,802 shares during the period. Liontrust Investment Partners LLP's holdings in Broadcom were worth $44,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Northern Trust Corp raised its holdings in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. Nuveen LLC bought a new stake in Broadcom during the first quarter valued at about $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Broadcom by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $4.89 during mid-day trading on Friday, hitting $306.34. The company's stock had a trading volume of 22,795,520 shares, compared to its average volume of 17,011,082. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 114.73, a PEG ratio of 2.21 and a beta of 1.15. The business's fifty day moving average is $278.27 and its two-hundred day moving average is $229.63.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the company earned $10.96 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company 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. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Susquehanna raised their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Oppenheimer raised their price target on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Mizuho raised their price target on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $295.96.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by company insiders.

About Broadcom

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.