Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Stratos Investment Management LLC

Stratos Investment Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,931 shares of the semiconductor manufacturer's stock after purchasing an additional 24,623 shares during the quarter. Stratos Investment Management LLC's holdings in Broadcom were worth $18,406,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at $25,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the fourth quarter valued at $26,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom in the fourth quarter valued at $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $1.02 on Friday, hitting $274.38. The company's stock had a trading volume of 14,264,387 shares, compared to its average volume of 28,130,551. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.18. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. 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 stock has a 50 day moving average of $246.70 and a 200-day moving average of $218.87.

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, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the firm earned $10.96 earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Truist Financial set a $295.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Susquehanna boosted their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $290.21.

Insider Buying and Selling

In other Broadcom 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 value of $12,664,000.00. Following the sale, the insider owned 415,956 shares of the company's stock, valued at $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 the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,716 shares of company stock valued at $216,933,761. 2.00% of the stock is owned by company 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.