Kercheville Advisors LLC Has $398,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kercheville Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,375 shares of the semiconductor manufacturer’s stock after purchasing an additional 235 shares during the period. Kercheville Advisors LLC’s holdings in Broadcom were worth $398,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AVGO. Tallon Kerry Patrick bought a new stake in Broadcom during the fourth quarter valued at $357,000. Capital & Planning LLC lifted its stake in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock valued at $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC boosted its position in shares of Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock valued at $18,145,000 after purchasing an additional 12,345 shares in the last quarter. Brighton Jones LLC grew its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Broadcom in the fourth quarter worth approximately $71,312,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the sale, the chief executive officer now directly owns 1,014,152 shares of the company’s stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 848,334 shares of company stock worth $163,560,669. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 1.4%

Shares of AVGO stock opened at $252.10 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 205.63, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a 50-day simple moving average of $214.93 and a two-hundred day simple moving average of $210.47.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating 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 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $10.96 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.94%. Broadcom’s payout ratio is currently 88.39%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, June 6th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Rosenblatt Securities increased their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Bank of America raised their target price on Broadcom from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.09.

Broadcom Company 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.