Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,964 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,483 shares during the quarter. Broadcom accounts for approximately 4.1% of Foyston Gordon & Payne Inc’s holdings, making the stock its 8th largest position. Foyston Gordon & Payne Inc’s holdings in Broadcom were worth $16,737,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. 17 Capital Partners LLC raised its holdings in Broadcom by 45.0% during the first quarter. 17 Capital Partners LLC now owns 1,450 shares of the semiconductor manufacturer’s stock worth $243,000 after purchasing an additional 450 shares in the last quarter. Algert Global LLC increased its position in shares of Broadcom by 8.2% during the 1st quarter. Algert Global LLC now owns 60,976 shares of the semiconductor manufacturer’s stock valued at $10,209,000 after purchasing an additional 4,618 shares during the period. Cascade Financial Partners LLC increased its position in shares of Broadcom by 60.1% during the 1st quarter. Cascade Financial Partners LLC now owns 4,615 shares of the semiconductor manufacturer’s stock valued at $773,000 after purchasing an additional 1,733 shares during the period. Corient IA LLC bought a new stake in shares of Broadcom in the 1st quarter worth $670,000. Finally, George Kaiser Family Foundation acquired a new stake in shares of Broadcom in the first quarter valued at $260,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of Broadcom 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 sale, the director owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the sale, the director owned 23,782 shares in the company, valued at approximately $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,286,457 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.6%

Shares of Broadcom stock opened at $306.34 on Friday. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The company’s fifty day simple moving average is $278.27 and its 200-day simple moving average is $229.79. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 114.73, a PEG ratio of 2.18 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $10.96 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Citigroup boosted their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research note on Friday, June 6th. Arete Research raised Broadcom to a “strong-buy” rating in a research report on Monday, July 28th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $295.96.

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.