Optimal Asset Management Inc. raised its position in shares of Broadcom Inc (NASDAQ:AVGO) by 19.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,673 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,607 shares during the quarter. Optimal Asset Management Inc.’s holdings in Broadcom were worth $2,293,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Islay Capital Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $32,000. Verus Capital Partners LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $34,000. HHM Wealth Advisors LLC purchased a new position in shares of Broadcom during the 1st quarter valued at $29,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at $39,000. Finally, Private Ocean LLC grew its holdings in shares of Broadcom by 45.0% during the 1st quarter. Private Ocean LLC now owns 145 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 45 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Shares of AVGO traded down $1.34 during midday trading on Friday, reaching $307.51. The stock had a trading volume of 859,264 shares, compared to its average volume of 3,060,426. The firm has a 50 day simple moving average of $290.62 and a 200-day simple moving average of $285.50. Broadcom Inc has a one year low of $155.67 and a one year high of $331.58. The firm has a market cap of $123.46 billion, a PE ratio of 54.89, a P/E/G ratio of 1.46 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 2.01 and a debt-to-equity ratio of 1.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 4th. The semiconductor manufacturer reported $5.14 EPS for the quarter, meeting analysts’ consensus estimates of $5.14. Broadcom had a net margin of 10.97% and a return on equity of 32.00%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter last year, the firm posted $5.21 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc will post 17.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, June 19th. Broadcom’s payout ratio is 74.67%.

A number of equities research analysts recently issued reports on the stock. Deutsche Bank upped their price objective on shares of Broadcom from $300.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Citigroup upped their price objective on shares of Broadcom from $303.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, June 5th. They noted that the move was a valuation call. TheStreet upgraded shares of Broadcom from a “c+” rating to a “b” rating in a report on Thursday, June 4th. Royal Bank of Canada upped their price objective on shares of Broadcom from $300.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Finally, Piper Sandler upped their price target on shares of Broadcom from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. Broadcom currently has a consensus rating of “Buy” and a consensus target price of $337.44.

In related news, insider Kirsten M. Spears sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $235.50, for a total transaction of $1,177,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,348 shares of Broadcom stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $264.39, for a total transaction of $356,397.72. The disclosure for this sale can be found here. Insiders have sold a total of 197,980 shares of company stock valued at $61,436,529 in the last ninety days. 3.30% of the stock is currently owned by insiders.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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