SJS Investment Consulting Inc. Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

SJS Investment Consulting Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 158.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,207 shares of the semiconductor manufacturer’s stock after acquiring an additional 740 shares during the period. SJS Investment Consulting Inc.’s holdings in Broadcom were worth $202,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sonora Investment Management Group LLC lifted its holdings in shares of Broadcom by 2.0% during the first quarter. Sonora Investment Management Group LLC now owns 125,154 shares of the semiconductor manufacturer’s stock valued at $20,955,000 after purchasing an additional 2,457 shares during the last quarter. Paragon Advisors LLC increased its position in Broadcom by 1.1% during the 1st quarter. Paragon Advisors LLC now owns 18,959 shares of the semiconductor manufacturer’s stock valued at $3,174,000 after buying an additional 200 shares in the last quarter. MADDEN SECURITIES Corp raised its stake in Broadcom by 116.9% during the first quarter. MADDEN SECURITIES Corp now owns 13,975 shares of the semiconductor manufacturer’s stock valued at $2,340,000 after buying an additional 7,532 shares during the last quarter. Accurate Wealth Management LLC raised its stake in Broadcom by 10.5% during the first quarter. Accurate Wealth Management LLC now owns 20,706 shares of the semiconductor manufacturer’s stock valued at $3,765,000 after buying an additional 1,963 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its holdings in Broadcom by 240.2% in the first quarter. Simplicity Wealth LLC now owns 21,540 shares of the semiconductor manufacturer’s stock worth $3,606,000 after acquiring an additional 15,208 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $244.28 on Tuesday. The company’s 50 day moving average is $205.17 and its 200 day moving average is $207.37. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.25, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the prior year, the business posted $10.96 earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.97%. Broadcom’s payout ratio is 88.39%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVGO. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. UBS Group increased their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Susquehanna raised their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $272.71.

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.