Broadcom Inc. (NASDAQ:AVGO) Shares Sold by LexAurum Advisors LLC

LexAurum Advisors LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,923 shares of the semiconductor manufacturer’s stock after selling 87 shares during the quarter. LexAurum Advisors LLC’s holdings in Broadcom were worth $1,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after buying an additional 18,845 shares during the period. Nebula Research & Development LLC raised its holdings in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Kovack Advisors Inc. raised its holdings in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after buying an additional 2,570 shares during the period. SOA Wealth Advisors LLC. raised its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after buying an additional 355 shares during the period. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after buying an additional 86,884 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 5.0%

Broadcom stock opened at $246.95 on Friday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The stock has a 50 day moving average of $203.73 and a two-hundred day moving average of $206.52. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial set a $295.00 price target on Broadcom and gave the stock a “buy” rating in a report on Friday. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Broadcom from $250.00 to $325.00 and gave the company an “overweight” rating in a report on Friday. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.25.

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.