Yukon Wealth Management Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Yukon Wealth Management Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,294 shares of the semiconductor manufacturer's stock, valued at approximately $1,054,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVGO shares. Susquehanna lifted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Benchmark increased their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Mizuho boosted their price target on Broadcom from $310.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average price target of $281.46.

Broadcom Stock Up 1.8%

Shares of AVGO stock traded up $4.97 during trading hours on Friday, reaching $274.87. The company had a trading volume of 10,592,655 shares, compared to its average volume of 28,641,799. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.95, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The business has a fifty day simple moving average of $237.12 and a 200-day simple moving average of $216.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the firm earned $10.96 EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,716 shares of company stock worth $221,433,761. Company insiders own 2.00% of the company's stock.

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.