West Branch Capital LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

West Branch Capital LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,692 shares of the semiconductor manufacturer's stock after acquiring an additional 2,779 shares during the period. Broadcom accounts for about 1.7% of West Branch Capital LLC's holdings, making the stock its 17th biggest position. West Branch Capital LLC's holdings in Broadcom were worth $5,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC increased its position in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares during the period. True Wealth Design LLC boosted its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares in the last quarter. DT Investment Partners LLC grew its holdings in Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock worth $1,251,000 after acquiring an additional 50 shares during the period. Bfsg LLC lifted its holdings in Broadcom by 12.5% in the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after acquiring an additional 50 shares during the period. Finally, Global Strategic Investment Solutions LLC boosted its position in shares of Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after purchasing an additional 50 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider now owns 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 848,334 shares of company stock valued at $163,560,669 in the last ninety days. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Citigroup increased their price target on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Rosenblatt Securities lifted their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Susquehanna lifted their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $276.09.

Broadcom Trading Up 1.4%

Shares of NASDAQ:AVGO traded up $3.40 during midday trading on Monday, reaching $252.10. The company's stock had a trading volume of 20,301,307 shares, compared to its average volume of 30,343,308. The firm has a market cap of $1.19 trillion, a price-to-earnings ratio of 205.63, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The business has a 50 day moving average price of $213.01 and a 200 day moving average price of $209.85. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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 company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.96 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.94%. Broadcom's dividend 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.