Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated raised its position in Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,914 shares of the semiconductor manufacturer’s stock after acquiring an additional 678 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Broadcom were worth $4,383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC raised its stake in Broadcom by 1,211.9% in the first quarter. ORG Wealth Partners LLC now owns 879 shares of the semiconductor manufacturer’s stock valued at $148,000 after buying an additional 812 shares in the last quarter. Plimoth Trust Co. LLC acquired a new position in Broadcom in the first quarter valued at $2,862,000. Compass Capital Corp MA ADV grew its holdings in shares of Broadcom by 69.6% during the first quarter. Compass Capital Corp MA ADV now owns 4,074 shares of the semiconductor manufacturer’s stock worth $669,000 after purchasing an additional 1,672 shares during the last quarter. HCR Wealth Advisors increased its position in shares of Broadcom by 1.6% during the first quarter. HCR Wealth Advisors now owns 12,518 shares of the semiconductor manufacturer’s stock worth $2,096,000 after purchasing an additional 196 shares in the last quarter. Finally, Sterling Investment Counsel LLC lifted its holdings in shares of Broadcom by 166.1% in the 1st quarter. Sterling Investment Counsel LLC now owns 6,100 shares of the semiconductor manufacturer’s stock valued at $1,021,000 after purchasing an additional 3,808 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.8%

Shares of NASDAQ:AVGO opened at $251.26 on Thursday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The stock has a 50-day simple moving average of $217.54 and a 200-day simple moving average of $211.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 94.10, a PEG ratio of 1.77 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same period in the prior year, the company earned $10.96 EPS. The firm’s revenue was up 20.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has initiated a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold 849,134 shares of company stock valued at $163,760,949 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Benchmark raised their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Evercore ISI restated an “outperform” rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target for the company. Finally, Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $276.09.

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.