Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,695 shares of the semiconductor manufacturer's stock after acquiring an additional 1,477 shares during the period. Valeo Financial Advisors LLC's holdings in Broadcom were worth $10,164,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 829,716 shares of company stock valued at $216,933,761. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. UBS Group raised their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group initiated coverage on shares of Broadcom in a report on Thursday. They issued a "buy" rating and a $315.00 price target for the company. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. One 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. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $290.21.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $1.02 during trading on Friday, reaching $274.38. 14,264,387 shares of the company's stock traded hands, compared to its average volume of 28,130,551. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $281.18. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.29 trillion, a PE ratio of 102.76, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a 50-day simple moving average of $246.70 and a 200-day simple moving average of $218.87.

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

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

Broadcom Dividend Announcement

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

About Broadcom

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.