TFR Capital LLC. Purchases 11,681 Shares of Broadcom Inc. (NASDAQ:AVGO)

TFR Capital LLC. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 122.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,243 shares of the semiconductor manufacturer's stock after buying an additional 11,681 shares during the period. Broadcom accounts for 1.5% of TFR Capital LLC.'s investment portfolio, making the stock its 15th biggest holding. TFR Capital LLC.'s holdings in Broadcom were worth $3,557,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Sunbeam Capital Management LLC bought a new stake in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth $30,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom in the fourth quarter worth $32,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the first quarter worth $25,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Broadcom during the first quarter worth $26,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the firm'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 completion of the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 828,916 shares of company stock worth $216,785,761. Company insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.4%

Shares of NASDAQ:AVGO traded up $1.22 during mid-day trading on Monday, reaching $275.60. 11,919,324 shares of the company's stock were exchanged, compared to its average volume of 28,056,476. The firm has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 103.22, a PEG ratio of 1.95 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. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $281.18. The business's fifty day moving average price is $246.70 and its 200-day moving average price is $218.54.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for 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%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its Board of Directors has approved a stock buyback program 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 programs are typically a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased 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. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Oppenheimer raised their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $290.21.

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.