Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Values Added Financial LLC

Values Added Financial LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,641 shares of the semiconductor manufacturer’s stock after acquiring an additional 84 shares during the quarter. Values Added Financial LLC’s holdings in Broadcom were worth $275,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SlateStone Wealth LLC grew its holdings in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC raised its holdings in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares during the last quarter. Cascade Financial Partners LLC grew its holdings in Broadcom by 1.8% in the fourth quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer’s stock valued at $668,000 after purchasing an additional 50 shares during the last quarter. Samalin Investment Counsel LLC grew its holdings in Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock valued at $1,155,000 after purchasing an additional 50 shares during the last quarter. Finally, Mizuho Bank Ltd. raised its stake in shares of Broadcom by 7.1% during the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer’s stock worth $174,000 after buying an additional 50 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. The trade was a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider owned 415,956 shares of the company’s stock, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Evercore ISI restated an “outperform” rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Barclays increased their target price on Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $281.46.

Broadcom Stock Up 1.8%

Shares of NASDAQ AVGO opened at $274.87 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a market cap of $1.29 trillion, a P/E ratio of 102.95, a P/E/G ratio of 1.92 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $237.12 and a 200 day moving average price of $216.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom’s payout ratio is currently 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.