Graphene Investments SAS Purchases 15,900 Shares of Broadcom Inc. (NASDAQ:AVGO)

Graphene Investments SAS grew its position in Broadcom Inc. (NASDAQ:AVGO) by 128.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 28,300 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,900 shares during the quarter. Broadcom comprises 3.5% of Graphene Investments SAS’s portfolio, making the stock its 5th biggest holding. Graphene Investments SAS’s holdings in Broadcom were worth $4,738,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVGO shares. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Evercore ISI reaffirmed an “outperform” rating and set a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Cowen reiterated a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, June 15th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $281.25.

Insider Activity

In other news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $262.17, for a total value of $10,486,800.00. Following the completion of the sale, the chief executive officer now owns 974,152 shares in the company, valued at $255,393,429.84. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer now owns 361,937 shares in the company, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 337,818 shares of company stock worth $84,167,415 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $270.17 on Friday. 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 firm has a fifty day simple moving average of $227.46 and a two-hundred day simple moving average of $214.61. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $271.67. The firm has a market capitalization of $1.27 trillion, a PE ratio of 101.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the firm posted $10.96 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

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

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.