Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,023.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,450 shares of the semiconductor manufacturer's stock after buying an additional 229,985 shares during the quarter. Vaughan Nelson Investment Management L.P.'s holdings in Broadcom were worth $42,267,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the last quarter. FMR LLC boosted its stake in shares of Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter valued at $16,893,010,000. Finally, Northern Trust Corp boosted its stake in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 2.9%

Shares of NASDAQ:AVGO traded down $7.37 during mid-day trading on Friday, hitting $248.70. 19,002,301 shares of the company traded hands, compared to its average volume of 30,383,406. The firm has a market cap of $1.17 trillion, a P/E ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The firm's 50 day simple moving average is $213.01 and its 200 day simple moving average is $209.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's revenue was up 20.2% on a year-over-year basis. During the same period last year, the business posted $10.96 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has initiated a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. Broadcom's payout ratio is currently 88.39%.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 730,576 shares of company stock worth $133,778,494. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVGO. UBS Group increased their price objective on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. JPMorgan Chase & Co. raised their price target on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Finally, Bank of America raised their price target on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.09.

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.