Monument Capital Management Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Monument Capital Management raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 819 shares of the semiconductor manufacturer’s stock after acquiring an additional 102 shares during the period. Monument Capital Management’s holdings in Broadcom were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Thrivent Financial for Lutherans lifted its stake in Broadcom by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 41,277 shares of the semiconductor manufacturer’s stock valued at $20,017,000 after acquiring an additional 563 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Broadcom by 8.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 282 shares of the semiconductor manufacturer’s stock valued at $137,000 after acquiring an additional 22 shares during the period. Cetera Advisor Networks LLC lifted its stake in Broadcom by 2.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 15,698 shares of the semiconductor manufacturer’s stock valued at $7,613,000 after acquiring an additional 373 shares during the period. Cetera Advisors LLC lifted its stake in Broadcom by 17.3% during the 3rd quarter. Cetera Advisors LLC now owns 11,091 shares of the semiconductor manufacturer’s stock valued at $5,378,000 after acquiring an additional 1,635 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Broadcom by 5.1% during the 3rd quarter. Cetera Investment Advisers now owns 14,136 shares of the semiconductor manufacturer’s stock valued at $6,855,000 after acquiring an additional 685 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

In other Broadcom news, Director Diane M. Bryant sold 476 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $629.55, for a total value of $299,665.80. Following the completion of the sale, the director now owns 1,560 shares of the company’s stock, valued at $982,098. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 200 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $624.67, for a total value of $124,934.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,676 shares of company stock worth $2,302,180. 2.30% of the stock is currently owned by insiders.

Broadcom stock traded up $1.86 during mid-day trading on Thursday, hitting $497.96. The company had a trading volume of 21,263 shares, compared to its average volume of 2,341,752. The stock has a market cap of $201.09 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 0.95 and a beta of 1.04. Broadcom Inc. has a 1 year low of $455.71 and a 1 year high of $677.76. The company has a quick ratio of 1.90, a current ratio of 2.14 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average of $560.85 and a 200 day moving average of $588.85.

Broadcom (NASDAQ:AVGOGet Rating) last announced its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $9.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.88 by $1.19. The business had revenue of $8.10 billion for the quarter, compared to analyst estimates of $7.91 billion. Broadcom had a net margin of 29.76% and a return on equity of 56.29%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $5.89 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 33.95 earnings per share for the current year.

Broadcom announced that its board has approved a share repurchase plan on Thursday, May 26th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd will be given a $4.10 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $16.40 dividend on an annualized basis and a yield of 3.29%. Broadcom’s dividend payout ratio (DPR) is 81.31%.

Several equities analysts recently issued reports on AVGO shares. Morgan Stanley decreased their target price on shares of Broadcom from $723.00 to $703.00 and set an “overweight” rating for the company in a research note on Friday, March 4th. Susquehanna reiterated a “buy” rating and issued a $680.00 target price on shares of Broadcom in a research note on Tuesday, March 1st. Piper Sandler reiterated a “buy” rating and issued a $750.00 target price on shares of Broadcom in a research note on Tuesday, May 24th. Truist Financial boosted their target price on shares of Broadcom to $658.00 in a research note on Friday, May 27th. Finally, StockNews.com upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 13th. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $685.70.

About Broadcom (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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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