Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by NCP Inc.

NCP Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,490 shares of the semiconductor manufacturer's stock after purchasing an additional 1,932 shares during the quarter. Broadcom accounts for 3.3% of NCP Inc.'s portfolio, making the stock its 9th largest holding. NCP Inc.'s holdings in Broadcom were worth $2,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. OMNI 360 Wealth Inc. grew its stake in Broadcom by 51.6% during the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake in Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $274.30, for a total value of $219,440.00. Following the sale, the director owned 24,582 shares in the company, valued at approximately $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction on 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 in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 in the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $5.10 on Wednesday, hitting $283.69. The company's stock had a trading volume of 20,467,451 shares, compared to its average volume of 27,725,330. The firm has a fifty day moving average price of $257.70 and a 200-day moving average price of $221.40. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $295.19. The company has a market capitalization of $1.33 trillion, a P/E ratio of 106.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. 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 released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $10.96 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its board has initiated a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Cowen restated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. UBS Group lifted 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. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $292.08.

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.