Capital Advisors Ltd. LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Capital Advisors Ltd. LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 17.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 334 shares of the semiconductor manufacturer’s stock after buying an additional 49 shares during the period. Capital Advisors Ltd. LLC’s holdings in Broadcom were worth $210,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Broadcom during the first quarter valued at about $26,000. Ahrens Investment Partners LLC increased its position in shares of Broadcom by 125.0% during the 1st quarter. Ahrens Investment Partners LLC now owns 45 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 25 shares during the last quarter. West Bancorporation Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at about $29,000. Semmax Financial Advisors Inc. lifted its position in Broadcom by 300.0% in the 4th quarter. Semmax Financial Advisors Inc. now owns 44 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Finally, Hoey Investments Inc. bought a new stake in Broadcom in the 1st quarter worth approximately $30,000. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AVGO. Bank of America decreased their price target on shares of Broadcom from $780.00 to $625.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Broadcom from $700.00 to $635.00 in a research note on Wednesday, July 20th. Piper Sandler reaffirmed a “buy” rating and set a $750.00 price objective on shares of Broadcom in a research note on Tuesday, May 24th. KeyCorp boosted their target price on Broadcom from $720.00 to $780.00 and gave the company an “overweight” rating in a research note on Friday, May 27th. Finally, StockNews.com upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 13th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $680.46.

Broadcom Stock Performance

Shares of AVGO opened at $551.44 on Friday. The company has a 50-day simple moving average of $518.75 and a two-hundred day simple moving average of $561.25. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.14 and a quick ratio of 1.90. The firm has a market capitalization of $222.68 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. Broadcom Inc. has a one year low of $462.66 and a one year high of $677.76.

Broadcom (NASDAQ:AVGOGet Rating) last announced its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $0.51. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The firm had revenue of $8.10 billion during the quarter, compared to analyst estimates of $7.91 billion. During the same quarter in the prior year, the company earned $5.89 EPS. The business’s revenue was up 22.6% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 33.96 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has authorized a share buyback plan on Thursday, May 26th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd were given a $4.10 dividend. This represents a $16.40 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, June 21st. Broadcom’s dividend payout ratio is presently 81.31%.

Broadcom Company Profile

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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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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