Broadcom Inc. (NASDAQ:AVGO) Holdings Increased by FOCUS Wealth Advisors LLC

FOCUS Wealth Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,350 shares of the semiconductor manufacturer’s stock after buying an additional 290 shares during the quarter. FOCUS Wealth Advisors LLC’s holdings in Broadcom were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Broadcom by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock worth $6,236,011,000 after acquiring an additional 5,783,988 shares in the last quarter. Northern Trust Corp increased its position in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Broadcom by 609.4% in the fourth quarter. APG Asset Management N.V. now owns 4,379,348 shares of the semiconductor manufacturer’s stock worth $980,500,000 after acquiring an additional 3,762,034 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the business’s stock in a transaction 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 sale, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 473,898 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.4%

Shares of AVGO stock opened at $294.30 on Tuesday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $295.45. The firm’s fifty day simple moving average is $261.32 and its 200 day simple moving average is $222.57. The firm has a market capitalization of $1.38 trillion, a P/E ratio of 110.22, a price-to-earnings-growth ratio of 2.06 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.

Broadcom (NASDAQ:AVGO) last announced 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. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. KeyCorp raised their price target on shares of Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Redburn Atlantic assumed coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target for the company. Susquehanna raised their price target 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, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average target price of $292.08.

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.