Rational Advisors Inc. Has $788,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Rational Advisors Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,704 shares of the semiconductor manufacturer's stock after purchasing an additional 1,355 shares during the period. Rational Advisors Inc.'s holdings in Broadcom were worth $788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Broadcom by 16.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after buying an additional 31,225 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Broadcom by 1.3% during the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after buying an additional 322 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Broadcom by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after buying an additional 6,168 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO opened at $274.38 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The firm's fifty day simple moving average is $246.70 and its two-hundred day simple moving average is $218.87. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $281.18.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the prior year, the firm posted $10.96 earnings per share. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. Broadcom's dividend payout ratio is currently 88.39%.

Insider Activity

In other news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 829,716 shares of company stock valued at $216,933,761. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AVGO shares. Mizuho upped their price target on shares of Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Benchmark upped their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Evercore ISI reiterated an "outperform" rating and set a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Redburn Atlantic started coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Finally, Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $290.21.

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.

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