Van Lanschot Kempen Investment Management N.V. Purchases 96,077 Shares of Broadcom Inc. $AVGO

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Van Lanschot Kempen Investment Management N.V. lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,167 shares of the semiconductor manufacturer's stock after purchasing an additional 96,077 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Broadcom were worth $55,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the 4th quarter worth $30,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter worth $25,000. Finally, Inlight Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth $26,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.2%

Shares of NASDAQ AVGO opened at $305.76 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market cap of $1.44 trillion, a P/E ratio of 114.52, a PEG ratio of 2.18 and a beta of 1.15. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The firm has a 50-day simple moving average of $279.50 and a two-hundred day simple moving average of $230.48.

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 (EPS) 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 net margin of 22.64% and a return on equity of 35.49%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Sunday. Rosenblatt Securities increased their price target on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wells Fargo & Company increased their price target on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Finally, Barclays increased their price target on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $295.96.

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.

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