Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by World Investment Advisors

World Investment Advisors raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.9% in the 1st quarter, Holdings Channel reports. The fund owned 158,084 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,461 shares during the quarter. Broadcom accounts for approximately 0.7% of World Investment Advisors’ portfolio, making the stock its 27th biggest position. World Investment Advisors’ holdings in Broadcom were worth $26,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter worth about $25,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $26,000. Inlight Wealth Management LLC acquired a new position in Broadcom during the first quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on AVGO shares. Oppenheimer raised their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Evercore ISI reissued an “outperform” rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. One equities 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. Based on data from MarketBeat, Broadcom currently has an average rating of “Buy” and an average target price of $281.46.

Broadcom Stock Performance

Broadcom stock opened at $274.87 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm’s fifty day moving average price is $238.77 and its 200 day moving average price is $217.22.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s payout ratio is currently 88.39%.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is owned by insiders.

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.