Trilogy Capital Inc. Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Trilogy Capital Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 19.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,076 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,131 shares during the quarter. Trilogy Capital Inc.’s holdings in Broadcom were worth $2,189,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after buying an additional 18,845 shares during the last quarter. Nebula Research & Development LLC lifted its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after buying an additional 14,399 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after acquiring an additional 2,016 shares during the period. OMNI 360 Wealth Inc. increased its holdings in shares of Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock valued at $499,000 after acquiring an additional 1,014 shares during the period. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after acquiring an additional 86,884 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Rosenblatt Securities lifted their target price on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a report on Friday, June 6th. Mizuho lifted their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Cowen reaffirmed a “buy” rating on shares of Broadcom in a report on Friday, June 6th. Finally, Benchmark lifted their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $292.08.

Broadcom Price Performance

Broadcom stock opened at $288.71 on Friday. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $291.20. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $258.82 and its 200 day simple moving average is $221.76. The firm has a market capitalization of $1.36 trillion, a PE ratio of 108.13, a P/E/G ratio of 2.02 and a beta of 1.12.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the firm earned $10.96 EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.82%. Broadcom’s dividend payout ratio is presently 88.39%.

Broadcom declared that its board has initiated a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 in the last 90 days. 2.00% of the stock is currently owned by corporate 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.