Sargent Investment Group LLC Purchases 3,946 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sargent Investment Group LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 54.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,225 shares of the semiconductor manufacturer's stock after acquiring an additional 3,946 shares during the quarter. Sargent Investment Group LLC's holdings in Broadcom were worth $1,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Sunbeam Capital Management LLC bought a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at about $30,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter valued at approximately $32,000. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the first quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC bought a new position in Broadcom in the first quarter valued at approximately $26,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 830,516 shares of company stock valued at $217,224,641. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Broadcom in a research report on Thursday, July 10th. They issued a "buy" rating and a $315.00 price target on the stock. Bank of America boosted their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $292.08.

Broadcom Trading Down 1.1%

Shares of Broadcom stock opened at $283.34 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 company's 50-day moving average price is $254.41 and its 200-day moving average price is $220.25. The company has a market cap of $1.33 trillion, a price-to-earnings ratio of 106.12, a PEG ratio of 2.02 and a beta of 1.12. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $288.28.

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 period last year, the business earned $10.96 earnings per share. The business's quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

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.

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