Trilogy Capital Inc. Buys 2,131 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Trilogy Capital Inc. increased its holdings in Broadcom Inc. by 19.5% by purchasing an additional 2,131 shares, bringing its total ownership to 13,076 shares valued at approximately $2.19 million.
• Recent analyst reports showed significant price target increases for Broadcom, with Wells Fargo raising their target to $255, and Citigroup raising theirs to $315, reflecting a strong consensus rating of "Buy" for the stock.
• Broadcom also declared a quarterly dividend of $0.59 per share and announced a stock repurchase plan allowing for the buyback of up to $10 billion in shares, indicating management's belief that the stock is undervalued.

Trilogy Capital Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,076 shares of the semiconductor manufacturer's stock after buying an additional 2,131 shares during the quarter. Trilogy Capital Inc.'s holdings in Broadcom were worth $2,189,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $26,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Citigroup boosted their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Susquehanna lifted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. One 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 stock. According to MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus price target of $292.08.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $1.47 during midday trading on Friday, hitting $290.18. 12,031,575 shares of the company's stock traded hands, compared to its average volume of 17,076,324. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $292.59. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 108.68, a price-to-earnings-growth ratio of 2.05 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 firm has a fifty day moving average of $260.05 and a 200 day moving average of $222.18.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $10.96 EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom declared that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the 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 owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 in the last three months. 2.00% of the stock is 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.