Capital Advisors Ltd. LLC Has $1.19 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Capital Advisors Ltd. LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the first quarter, Holdings Channel.com reports. The fund owned 7,105 shares of the semiconductor manufacturer’s stock after buying an additional 239 shares during the period. Capital Advisors Ltd. LLC’s holdings in Broadcom were worth $1,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. SlateStone Wealth LLC grew its position in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC grew its position in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after acquiring an additional 48 shares in the last quarter. DT Investment Partners LLC grew its position in Broadcom by 0.9% in the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock worth $1,251,000 after acquiring an additional 50 shares in the last quarter. Bfsg LLC grew its position in Broadcom by 12.5% in the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 50 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC grew its position in Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock worth $782,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the company’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 owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $252.91 on Thursday. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 206.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company has a 50-day moving average price of $209.12 and a 200-day moving average price of $207.94. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43.

Broadcom (NASDAQ:AVGO) last issued 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 during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.96 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has approved a share 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Morgan Stanley upped their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. UBS Group upped their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Citigroup upped their target price on shares of Broadcom from $276.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $272.71.

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.