Silver Oak Securities Incorporated Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Silver Oak Securities Incorporated increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,914 shares of the semiconductor manufacturer’s stock after purchasing an additional 678 shares during the period. Silver Oak Securities Incorporated’s holdings in Broadcom were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AVGO. Vanguard Group Inc. boosted its stake in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC raised its position in Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC lifted its holdings in Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the period. Norges Bank purchased a new stake in Broadcom in the 4th quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp boosted its position in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday, June 6th. Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Citigroup lifted their price target on Broadcom from $276.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.09.

Broadcom Price Performance

Broadcom stock opened at $251.26 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $217.54 and a 200 day moving average price of $211.02. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The stock has a market cap of $1.18 trillion, a P/E ratio of 94.10, a PEG ratio of 1.77 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its board has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $250.35, for a total value of $200,280.00. Following the completion of the sale, the director now owns 25,382 shares in the company, valued at $6,354,383.70. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,134 shares of company stock worth $163,760,949. 2.00% of the stock is currently owned by company insiders.

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.