Broadcom Inc. (NASDAQ:AVGO) is Xponance Inc.'s 7th Largest Position

Xponance Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,173,184 shares of the semiconductor manufacturer's stock after purchasing an additional 30,652 shares during the period. Broadcom comprises 1.9% of Xponance Inc.'s investment portfolio, making the stock its 7th biggest position. Xponance Inc.'s holdings in Broadcom were worth $196,426,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kesler Norman & Wride LLC grew its position in shares of Broadcom by 4.4% during the 1st quarter. Kesler Norman & Wride LLC now owns 35,695 shares of the semiconductor manufacturer's stock valued at $5,977,000 after acquiring an additional 1,492 shares during the period. Sage Rhino Capital LLC grew its position in shares of Broadcom by 1.7% during the 1st quarter. Sage Rhino Capital LLC now owns 6,387 shares of the semiconductor manufacturer's stock valued at $1,069,000 after acquiring an additional 104 shares during the period. Fidelis Capital Partners LLC grew its position in shares of Broadcom by 0.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 49,156 shares of the semiconductor manufacturer's stock valued at $8,230,000 after acquiring an additional 188 shares during the period. Seamount Financial Group Inc. grew its position in shares of Broadcom by 2.3% during the 1st quarter. Seamount Financial Group Inc. now owns 7,058 shares of the semiconductor manufacturer's stock valued at $1,182,000 after acquiring an additional 161 shares during the period. Finally, Genus Capital Management Inc. grew its position in shares of Broadcom by 113.1% during the 1st quarter. Genus Capital Management Inc. now owns 8,935 shares of the semiconductor manufacturer's stock valued at $1,496,000 after acquiring an additional 77,401 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,716 shares of company stock valued at $216,933,761 over the last three months. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Broadcom in a research report on Thursday. They set a "buy" rating and a $315.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Susquehanna raised their price objective on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Finally, UBS Group raised their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $290.21.

Broadcom Stock Down 0.4%

Broadcom stock traded down $1.02 during trading hours on Friday, hitting $274.38. The stock had a trading volume of 14,264,387 shares, compared to its average volume of 28,130,551. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.18. The stock's 50-day moving average price is $245.29 and its 200-day moving average price is $218.63.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating 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 in the previous year, the company earned $10.96 earnings per share. The firm's quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. Broadcom's payout ratio is 88.39%.

Broadcom 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.