Snider Financial Group Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Snider Financial Group boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,292 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,783 shares during the period. Snider Financial Group’s holdings in Broadcom were worth $2,226,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Nebula Research & Development LLC grew its position in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after purchasing an additional 14,399 shares during the period. Kovack Advisors Inc. increased its stake in Broadcom by 8.1% in the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after purchasing an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Broadcom by 50.6% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock worth $245,000 after buying an additional 355 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its stake in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after buying an additional 86,884 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $259.93 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The company has a fifty day moving average price of $202.16 and a two-hundred day moving average price of $205.65. The company has a market cap of $1.22 trillion, a PE ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the firm posted $10.96 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVGO shares. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Susquehanna boosted their target price on shares of Broadcom from $250.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.25.

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.