Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by JBR Co Financial Management Inc

JBR Co Financial Management Inc boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,249 shares of the semiconductor manufacturer’s stock after purchasing an additional 312 shares during the period. JBR Co Financial Management Inc’s holdings in Broadcom were worth $377,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter worth about $32,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 848,334 shares of company stock worth $163,560,669 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.1%

AVGO stock opened at $249.37 on Wednesday. The firm has a market cap of $1.17 trillion, a PE ratio of 93.40, a PEG ratio of 1.79 and a beta of 1.11. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a fifty day simple moving average of $216.21 and a 200 day simple moving average of $210.74. 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 posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $10.96 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. Broadcom’s payout ratio is currently 88.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVGO shares. Oppenheimer lifted their target price on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price target on Broadcom from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Wells Fargo & Company increased their price objective on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. Finally, Rosenblatt Securities raised their price objective on Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.09.

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.