Broadcom Inc. (NASDAQ:AVGO) is Vestor Capital LLC’s 10th Largest Position

Vestor Capital LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 29.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,242 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,190 shares during the period. Broadcom accounts for about 2.5% of Vestor Capital LLC’s investment portfolio, making the stock its 10th largest position. Vestor Capital LLC’s holdings in Broadcom were worth $25,340,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVGO. Beaumont Financial Partners LLC boosted its position in shares of Broadcom by 90.2% in the first quarter. Beaumont Financial Partners LLC now owns 2,943 shares of the semiconductor manufacturer’s stock worth $1,853,000 after acquiring an additional 1,396 shares during the last quarter. Highlander Capital Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $63,000. Cypress Capital LLC lifted its position in Broadcom by 2.0% during the first quarter. Cypress Capital LLC now owns 3,480 shares of the semiconductor manufacturer’s stock valued at $2,191,000 after buying an additional 67 shares in the last quarter. PYA Waltman Capital LLC lifted its position in Broadcom by 21.0% during the first quarter. PYA Waltman Capital LLC now owns 236 shares of the semiconductor manufacturer’s stock valued at $149,000 after buying an additional 41 shares in the last quarter. Finally, Fort Sheridan Advisors LLC lifted its position in Broadcom by 4.7% during the first quarter. Fort Sheridan Advisors LLC now owns 556 shares of the semiconductor manufacturer’s stock valued at $350,000 after buying an additional 25 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Broadcom from $700.00 to $635.00 in a research note on Wednesday, July 20th. Truist Financial lifted their price objective on shares of Broadcom to $658.00 in a research note on Friday, May 27th. Bank of America dropped their price target on shares of Broadcom from $780.00 to $625.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Piper Sandler restated a “buy” rating and issued a $750.00 price target on shares of Broadcom in a research note on Tuesday, May 24th. Finally, Mizuho lifted their price target on shares of Broadcom from $700.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $680.46.

Broadcom Stock Down 0.2 %

Shares of NASDAQ AVGO traded down $1.36 during trading hours on Friday, hitting $551.44. The stock had a trading volume of 1,435,744 shares, compared to its average volume of 1,840,794. The company has a market capitalization of $222.68 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.12 and a beta of 1.08. The firm’s 50-day moving average price is $518.75 and its two-hundred day moving average price is $561.25. Broadcom Inc. has a 52 week low of $462.66 and a 52 week high of $677.76. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.90 and a current ratio of 2.14.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The semiconductor manufacturer reported $8.39 EPS for the quarter, beating the consensus estimate of $7.88 by $0.51. The business had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.89 EPS. Analysts anticipate that Broadcom Inc. will post 33.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd were paid a $4.10 dividend. The ex-dividend date was Tuesday, June 21st. This represents a $16.40 annualized dividend and a dividend yield of 2.97%. Broadcom’s payout ratio is 81.31%.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Thursday, May 26th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

About Broadcom

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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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