Yarger Wealth Strategies LLC Acquires 142 Shares of Broadcom Inc. (NASDAQ:AVGO)

Yarger Wealth Strategies LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,955 shares of the semiconductor manufacturer’s stock after purchasing an additional 142 shares during the period. Yarger Wealth Strategies LLC’s holdings in Broadcom were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Canton Hathaway LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the 4th quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $32,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer increased their target price on Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. UBS Group increased their target price on Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Benchmark increased their target price on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Finally, Barclays raised their price objective on Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $272.71.

Broadcom Stock Performance

Shares of AVGO opened at $252.91 on Thursday. The business’s fifty day simple moving average is $209.12 and its two-hundred day simple moving average is $207.94. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 206.29, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $10.96 EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has approved 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.93%. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Broadcom Company 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.