SJS Investment Consulting Inc. Has $202,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

SJS Investment Consulting Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 158.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,207 shares of the semiconductor manufacturer’s stock after purchasing an additional 740 shares during the period. SJS Investment Consulting Inc.’s holdings in Broadcom were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter valued at about $32,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% 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 Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 1.1%

Shares of Broadcom stock opened at $244.28 on Tuesday. The company’s 50 day moving average price is $205.17 and its 200-day moving average price is $207.37. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.25, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.96 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, June 20th. Broadcom’s payout ratio is 88.39%.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Wells Fargo & Company boosted their price target on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI lifted their price target on shares of Broadcom from $267.00 to $304.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer increased their price objective on Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $272.71.

Broadcom 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.