Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Spirepoint Private Client LLC

Spirepoint Private Client LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,302 shares of the semiconductor manufacturer's stock after buying an additional 2,734 shares during the quarter. Broadcom makes up approximately 2.0% of Spirepoint Private Client LLC's portfolio, making the stock its 8th biggest position. Spirepoint Private Client LLC's holdings in Broadcom were worth $15,119,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SlateStone Wealth LLC boosted its stake in Broadcom by 0.3% during the 4th 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 last quarter. True Wealth Design LLC raised its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares in the last quarter. Global Strategic Investment Solutions LLC raised its stake in shares of Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after purchasing an additional 50 shares in the last quarter. Cascade Financial Partners LLC lifted its position in shares of Broadcom by 1.8% during the fourth quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock worth $668,000 after purchasing an additional 50 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its stake in Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after purchasing an additional 50 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was 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 now owns 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 811,716 shares of company stock worth $209,906,771 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded down $0.82 on Friday, reaching $269.35. The company's stock had a trading volume of 27,450,264 shares, compared to its average volume of 29,072,842. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $273.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market capitalization of $1.27 trillion, a P/E ratio of 100.88, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm has a fifty day moving average of $227.46 and a two-hundred day moving average of $214.61.

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

Broadcom announced that its Board of Directors has authorized a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.88%. Broadcom's dividend payout ratio is presently 88.39%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays increased their target price on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Oppenheimer boosted their price target on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. Bank of America boosted their target price on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $281.25.

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.