Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Silphium Asset Management Ltd

Silphium Asset Management Ltd increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 232.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,202 shares of the semiconductor manufacturer's stock after purchasing an additional 12,022 shares during the period. Broadcom makes up about 2.3% of Silphium Asset Management Ltd's investment portfolio, making the stock its 24th largest position. Silphium Asset Management Ltd's holdings in Broadcom were worth $2,880,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AVGO. Vanguard Group Inc. boosted its stake 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 worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after purchasing an additional 3,018,294 shares during the period. FMR LLC boosted its stake in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter worth about $16,893,010,000. Finally, Northern Trust Corp boosted its stake in shares of Broadcom by 12.0% during 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. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.4%

Shares of NASDAQ AVGO traded down $1.02 during trading hours on Friday, hitting $274.38. 14,263,680 shares of the stock were exchanged, compared to its average volume of 28,222,071. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.29 trillion, a PE ratio of 102.76, a PEG ratio of 1.98 and a beta of 1.12. The firm has a fifty day moving average price of $245.29 and a 200-day moving average price of $218.63. 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 posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.96 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid 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 (DPR) is presently 88.39%.

Broadcom declared that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. The Goldman Sachs Group began coverage on shares of Broadcom in a research note on Thursday. They set a "buy" rating and a $315.00 price target for the company. Susquehanna boosted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Oppenheimer boosted their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. One investment 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 company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average target price of $290.21.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction that occurred on 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer owned 1,014,152 shares in the company, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,716 shares of company stock worth $216,933,761 over the last 90 days. 2.00% of the stock is currently owned by insiders.

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.