Broadcom Inc. (NASDAQ:AVGO) is Huntleigh Advisors Inc.’s 8th Largest Position

Huntleigh Advisors Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 23.1% in the 1st quarter, HoldingsChannel reports. The firm owned 65,628 shares of the semiconductor manufacturer’s stock after selling 19,700 shares during the quarter. Broadcom makes up 2.1% of Huntleigh Advisors Inc.’s holdings, making the stock its 8th biggest holding. Huntleigh Advisors Inc.’s holdings in Broadcom were worth $10,988,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after purchasing an additional 18,845 shares during the period. Nebula Research & Development LLC boosted its stake 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. Coppell Advisory Solutions LLC boosted its stake in shares of Broadcom by 1,512.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after purchasing an additional 86,884 shares during the period. Colonial Trust Co SC boosted its stake in shares of Broadcom by 14.6% in the fourth quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer’s stock valued at $2,338,000 after purchasing an additional 1,285 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Broadcom by 7.3% in the fourth quarter. Mackenzie Financial Corp now owns 2,695,694 shares of the semiconductor manufacturer’s stock valued at $624,970,000 after purchasing an additional 183,474 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AVGO shares. Susquehanna raised 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, June 6th. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Barclays lifted their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Cowen reiterated a “buy” rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Wells Fargo & Company lifted their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $281.46.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company’s stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 854,716 shares of company stock worth $221,433,761. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $274.87 on Friday. The firm’s fifty day simple moving average is $238.77 and its 200-day simple moving average is $217.22. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS 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 22.64% and a return on equity of 35.49%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $10.96 EPS. As a group, equities analysts forecast 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom’s payout ratio is 88.39%.

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

Broadcom 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.