Insight Advisors LLC PA Acquires 1,358 Shares of Broadcom Inc. (NASDAQ:AVGO)

Insight Advisors LLC PA raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,361 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,358 shares during the quarter. Broadcom accounts for 1.0% of Insight Advisors LLC PA’s investment portfolio, making the stock its 14th largest position. Insight Advisors LLC PA’s holdings in Broadcom were worth $5,753,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of 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 valued at $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 valued at $3,642,000 after buying an additional 14,399 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after buying an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after buying an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after buying an additional 86,884 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Mizuho increased their price objective on Broadcom from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Barclays dropped their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial increased their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.00.

Broadcom Price Performance

Shares of Broadcom stock opened at $259.93 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.22 trillion, a PE ratio of 212.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The business’s 50-day moving average price is $202.16 and its 200-day moving average price is $205.65. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $10.96 EPS. Sell-side 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 will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.91%. Broadcom’s payout ratio is 113.46%.

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

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last ninety days. 2.00% of the stock is owned by 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.