Vista Investment Partners II LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Vista Investment Partners II LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 231.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,712 shares of the semiconductor manufacturer's stock after purchasing an additional 5,385 shares during the quarter. Vista Investment Partners II LLC's holdings in Broadcom were worth $1,291,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mcdaniel Terry & Co. increased its position in shares of Broadcom by 167.2% during the 1st quarter. Mcdaniel Terry & Co. now owns 4,222 shares of the semiconductor manufacturer's stock valued at $707,000 after purchasing an additional 2,642 shares during the last quarter. Jag Capital Management LLC raised its position in Broadcom by 32.1% in the first quarter. Jag Capital Management LLC now owns 119,788 shares of the semiconductor manufacturer's stock worth $20,056,000 after acquiring an additional 29,103 shares during the period. Gold Investment Management Ltd. boosted its stake in Broadcom by 5.9% in the first quarter. Gold Investment Management Ltd. now owns 5,723 shares of the semiconductor manufacturer's stock valued at $958,000 after acquiring an additional 321 shares during the last quarter. 3Chopt Investment Partners LLC grew its position in shares of Broadcom by 0.5% during the 1st quarter. 3Chopt Investment Partners LLC now owns 27,726 shares of the semiconductor manufacturer's stock valued at $4,642,000 after acquiring an additional 143 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Broadcom by 7.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,308,465 shares of the semiconductor manufacturer's stock worth $545,845,000 after purchasing an additional 219,098 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the transaction, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,716 shares of company stock valued at $221,433,761 over the last ninety days. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVGO shares. Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Rosenblatt Securities upped their price target on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Citigroup increased their price target on Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Wells Fargo & Company lifted their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $281.25.

Broadcom Trading Down 3.6%

Shares of AVGO stock traded down $9.89 during trading hours on Tuesday, reaching $265.76. The company's stock had a trading volume of 16,027,014 shares, compared to its average volume of 28,844,190. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a one year low of $128.50 and a one year high of $277.71. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 99.49, a P/E/G ratio of 1.92 and a beta of 1.11. The firm's fifty day simple moving average is $231.62 and its 200 day simple moving average is $216.10.

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, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the company posted $10.96 EPS. The company's quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

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.