UNICOM Systems Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

UNICOM Systems Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 300,300 shares of the semiconductor manufacturer's stock after acquiring an additional 26,300 shares during the period. Broadcom accounts for about 10.2% of UNICOM Systems Inc.'s holdings, making the stock its 4th biggest position. UNICOM Systems Inc.'s holdings in Broadcom were worth $50,279,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AVGO. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Broadcom by 16.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after buying an additional 31,225 shares during the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Broadcom by 1.3% during the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after buying an additional 322 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Broadcom by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after buying an additional 6,168 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 2.0%

NASDAQ:AVGO traded up $5.64 on Thursday, reaching $286.45. The stock had a trading volume of 17,207,181 shares, compared to its average volume of 27,903,327. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $252.91 and a 200 day moving average of $219.98. The stock has a market cap of $1.35 trillion, a P/E ratio of 107.28, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. 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 posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $10.96 EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.82%. Broadcom's payout ratio is 88.39%.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,224,641. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Evercore ISI restated an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, Benchmark upped their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One investment 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 company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $292.08.

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.