Slow Capital Inc. Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Slow Capital Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 214,247 shares of the semiconductor manufacturer's stock after purchasing an additional 14,377 shares during the quarter. Broadcom comprises approximately 4.8% of Slow Capital Inc.'s holdings, making the stock its 2nd largest holding. Slow Capital Inc.'s holdings in Broadcom were worth $35,871,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. SlateStone Wealth LLC boosted its position in shares of Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC boosted its position in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the period. Samalin Investment Counsel LLC boosted its position in shares of Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock valued at $1,155,000 after acquiring an additional 50 shares during the period. Mizuho Bank Ltd. boosted its position in shares of Broadcom by 7.1% in the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock valued at $174,000 after acquiring an additional 50 shares during the period. Finally, Fulton Breakefield Broenniman LLC boosted its position in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 830,516 shares of company stock valued at $217,224,641. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Citigroup boosted their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Evercore ISI reissued an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. UBS Group boosted their target price on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $292.08.

Broadcom Trading Up 2.0%

Shares of NASDAQ:AVGO traded up $5.64 during midday trading on Thursday, hitting $286.45. 17,207,181 shares of the stock were exchanged, compared to its average volume of 27,903,327. The stock has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 107.28, a P/E/G ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The business's 50-day moving average price is $252.91 and its 200 day moving average price is $219.98. 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 released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted $10.96 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Dividend Announcement

The company also recently declared 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. This represents a $2.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

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.