Sigma Planning Corp raised its position in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,952 shares of the semiconductor manufacturer’s stock after purchasing an additional 415 shares during the period. Sigma Planning Corp’s holdings in Broadcom were worth $4,378,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Sara Bay Financial boosted its holdings in shares of Broadcom by 36.5% in the 1st quarter. Sara Bay Financial now owns 580 shares of the semiconductor manufacturer’s stock valued at $365,000 after buying an additional 155 shares in the last quarter. Coastal Investment Advisors Inc. boosted its holdings in shares of Broadcom by 34.3% in the 1st quarter. Coastal Investment Advisors Inc. now owns 1,369 shares of the semiconductor manufacturer’s stock valued at $862,000 after buying an additional 350 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Broadcom by 8.0% in the 1st quarter. Capital Investment Advisors LLC now owns 5,407 shares of the semiconductor manufacturer’s stock valued at $3,404,000 after buying an additional 401 shares in the last quarter. Ignite Planners LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $278,000. Finally, Weiss Multi Strategy Advisers LLC boosted its holdings in shares of Broadcom by 50.7% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 9,044 shares of the semiconductor manufacturer’s stock valued at $6,018,000 after buying an additional 3,044 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Broadcom from $780.00 to $625.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group decreased their price target on shares of Broadcom from $704.00 to $665.00 and set a “buy” rating for the company in a research note on Friday, March 4th. UBS Group increased their price target on shares of Broadcom from $665.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. StockNews.com upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 13th. Finally, KeyCorp increased their price target on shares of Broadcom from $720.00 to $780.00 and gave the stock an “overweight” rating in a research note on Friday, May 27th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $683.17.
NASDAQ:AVGO opened at $485.81 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.90 and a debt-to-equity ratio of 1.87. The firm has a 50-day moving average price of $550.12 and a two-hundred day moving average price of $584.72. Broadcom Inc. has a twelve month low of $455.71 and a twelve month high of $677.76. The company has a market capitalization of $196.18 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 0.96 and a beta of 1.04.
Broadcom (NASDAQ:AVGO – Get Rating) last posted its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $9.07 earnings per share for the quarter, beating the consensus estimate of $7.88 by $1.19. Broadcom had a net margin of 29.76% and a return on equity of 56.29%. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $7.91 billion. During the same period last year, the firm posted $5.89 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 33.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd were given a $4.10 dividend. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $16.40 annualized dividend and a dividend yield of 3.38%. Broadcom’s dividend payout ratio is currently 81.31%.
Broadcom declared that its board has approved a share repurchase program on Thursday, May 26th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 4.3% of its shares through open market purchases. Share repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Diane M. Bryant sold 476 shares of Broadcom stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total transaction of $299,665.80. Following the sale, the director now owns 1,560 shares in the company, valued at $982,098. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
Broadcom Company Profile: (Get Rating)
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.
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