Winch Advisory Services LLC Buys 348 Shares of Broadcom Inc. (NASDAQ:AVGO)

Winch Advisory Services LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 59.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 937 shares of the semiconductor manufacturer’s stock after buying an additional 348 shares during the period. Winch Advisory Services LLC’s holdings in Broadcom were worth $157,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at $30,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the 4th quarter valued at $32,000. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the 1st quarter valued at $25,000. Finally, Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter valued at $26,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Cowen reiterated a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Susquehanna boosted their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a report on Friday, June 6th. Finally, Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $292.08.

Broadcom Trading Up 1.2%

Shares of AVGO stock traded up $3.42 during trading hours on Monday, hitting $286.76. 2,398,916 shares of the company’s stock traded hands, compared to its average volume of 27,720,744. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $288.28. The stock’s 50 day simple moving average is $254.41 and its 200 day simple moving average is $220.17. The stock has a market cap of $1.35 trillion, a PE ratio of 107.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its Board of Directors has approved a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the sale, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,224,641 in the last quarter. 2.00% of the stock is owned by company insiders.

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.