Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Yarbrough Capital LLC

Yarbrough Capital LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 295,503 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,341 shares during the period. Broadcom accounts for about 2.1% of Yarbrough Capital LLC’s holdings, making the stock its 9th biggest position. Yarbrough Capital LLC’s holdings in Broadcom were worth $49,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AVGO. Tallon Kerry Patrick acquired a new stake in shares of Broadcom in the 4th quarter valued at $357,000. Capital & Planning LLC lifted its stake in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock valued at $969,000 after purchasing an additional 554 shares during the last quarter. LaFleur & Godfrey LLC lifted its stake in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock valued at $18,145,000 after purchasing an additional 12,345 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Broadcom in the 4th quarter valued at $71,312,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $246.95 on Friday. The firm’s 50-day moving average is $203.73 and its 200-day moving average is $206.52. 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 company has a market cap of $1.16 trillion, a price-to-earnings ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11.

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 analysts’ consensus estimates of $1.57 by $0.01. The business 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 firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.96 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. Broadcom’s payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna lifted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research note on Friday. Barclays dropped their target price on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Bank of America lifted their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, UBS Group lifted their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday. 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 company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $270.25.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 over the last quarter. 2.00% of the stock is 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.