McDonough Capital Management Inc Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

McDonough Capital Management Inc grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,203 shares of the semiconductor manufacturer's stock after purchasing an additional 1,428 shares during the period. Broadcom makes up 1.0% of McDonough Capital Management Inc's investment portfolio, making the stock its 18th largest holding. McDonough Capital Management Inc's holdings in Broadcom were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $16,893,010,000. GAMMA Investing LLC boosted its position in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after buying an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.1%

AVGO traded up $0.35 during mid-day trading on Tuesday, hitting $244.63. 25,457,534 shares of the stock were exchanged, compared to its average volume of 31,006,245. The company has a market cap of $1.15 trillion, a PE ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm's fifty day moving average is $205.17 and its two-hundred day moving average is $207.37.

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, beating 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 28.00% and a net margin of 11.43%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 earnings per share. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom's payout ratio is 88.39%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Mizuho upped their price target on Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday. Benchmark lifted their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday. Susquehanna increased their target price on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday. Finally, Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $272.71.

Broadcom 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.