Rowlandmiller & PARTNERS.ADV Has $115,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Rowlandmiller & PARTNERS.ADV lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 52.2% during the first quarter, Holdings Channel reports. The fund owned 685 shares of the semiconductor manufacturer’s stock after buying an additional 235 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Broadcom were worth $115,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. raised its holdings in Broadcom by 23.4% during the first quarter. Redhawk Wealth Advisors Inc. now owns 9,430 shares of the semiconductor manufacturer’s stock worth $1,579,000 after buying an additional 1,788 shares during the last quarter. CX Institutional raised its holdings in Broadcom by 19.4% during the first quarter. CX Institutional now owns 95,581 shares of the semiconductor manufacturer’s stock worth $16,003,000 after buying an additional 15,508 shares during the last quarter. Kozak & Associates Inc. raised its holdings in Broadcom by 15.9% during the first quarter. Kozak & Associates Inc. now owns 6,777 shares of the semiconductor manufacturer’s stock worth $1,209,000 after buying an additional 930 shares during the last quarter. MV Capital Management Inc. raised its holdings in Broadcom by 22.3% during the first quarter. MV Capital Management Inc. now owns 3,682 shares of the semiconductor manufacturer’s stock worth $616,000 after buying an additional 672 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC raised its holdings in Broadcom by 30.8% during the first quarter. Franklin Street Advisors Inc. NC now owns 209,611 shares of the semiconductor manufacturer’s stock worth $35,095,000 after buying an additional 49,347 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $244.63 on Wednesday. The stock’s fifty day moving average is $206.98 and its 200 day moving average is $207.63. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The firm has a market capitalization of $1.15 trillion, a PE ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the firm posted $10.96 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. Broadcom’s dividend payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVGO shares. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Wells Fargo & Company upped their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, June 6th. Cowen restated a “buy” rating on shares of Broadcom in a report on Friday. Oppenheimer increased their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $272.71.

Insider Activity

In other Broadcom 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 owns 38,798,721 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom 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 completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Company insiders own 2.00% of the company’s stock.

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.