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Values First Advisors Inc. Buys 1,013 Shares of Broadcom Inc. (NASDAQ:AVGO)

Broadcom logo with Computer and Technology background

Values First Advisors Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,052 shares of the semiconductor manufacturer's stock after acquiring an additional 1,013 shares during the period. Values First Advisors Inc.'s holdings in Broadcom were worth $512,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at $25,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at $26,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom in the fourth quarter valued at $30,000. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 854,716 shares of company stock worth $221,433,761 in the last quarter. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America lifted their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Citigroup boosted their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Finally, Rosenblatt Securities boosted their target price on shares of Broadcom from $223.00 to $340.00 and gave the company 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $282.71.

Check Out Our Latest Stock Analysis on Broadcom

Broadcom Stock Performance

Shares of Broadcom stock opened at $274.18 on Tuesday. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.69, a PEG ratio of 1.96 and a beta of 1.12. The firm's 50-day moving average is $240.40 and its 200 day moving average is $217.54. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $277.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping 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 business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the previous year, the firm earned $10.96 EPS. Broadcom's revenue was up 20.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

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

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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