Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,241,379 shares of the semiconductor manufacturer’s stock after buying an additional 32,231 shares during the period. Broadcom makes up 0.4% of Dimensional Fund Advisors LP’s holdings, making the stock its 22nd largest position. Dimensional Fund Advisors LP owned approximately 0.22% of Broadcom worth $1,714,546,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter valued at about $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. KeyCorp boosted their price target on Broadcom from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Redburn Atlantic assumed coverage on Broadcom in a research note on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target on the stock. Finally, Citigroup boosted their price target on Broadcom from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus target price of $295.96.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the chief financial officer owned 361,937 shares of the company’s stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,716 shares of company stock worth $217,040,489 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.7%

Shares of Broadcom stock opened at $311.23 on Friday. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 116.57, a PEG ratio of 2.20 and a beta of 1.15. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a 50 day moving average of $277.08 and a 200 day moving average of $228.95.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $10.96 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is 88.39%.

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.