Yarbrough Capital LLC Acquires 10,341 Shares of Broadcom Inc. (NASDAQ:AVGO)

Yarbrough Capital LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 295,503 shares of the semiconductor manufacturer's stock after buying an additional 10,341 shares during the period. Broadcom accounts for approximately 2.1% of Yarbrough Capital LLC's portfolio, making the stock its 9th largest holding. Yarbrough Capital LLC's holdings in Broadcom were worth $49,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday. Barclays cut their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Rosenblatt Securities increased their price target on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $270.25.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $246.95 on Friday. 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 one year low of $128.50 and a one year high of $265.43. The company's 50-day simple moving average is $203.73 and its 200-day simple moving average is $206.52. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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 buy up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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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