Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Dunhill Financial LLC

Dunhill Financial LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the semiconductor manufacturer’s stock after selling 144 shares during the period. Dunhill Financial LLC’s holdings in Broadcom were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Broadcom during the fourth quarter worth about $357,000. Capital & Planning LLC grew its stake in shares of Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC grew its stake 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 worth $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Broadcom in the 4th quarter valued at $71,312,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Wall Street Zen lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday. Wells Fargo & Company raised their target price on Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, June 6th. Truist Financial set a $295.00 price target on Broadcom and gave the stock a “buy” rating in a report on Friday, June 6th. Redburn Atlantic assumed coverage on Broadcom in a research report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target on the stock. Finally, KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.09.

Broadcom Price Performance

NASDAQ:AVGO opened at $249.37 on Wednesday. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The stock has a market cap of $1.17 trillion, a PE ratio of 93.40, a P/E/G ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a 50 day moving average price of $216.21 and a 200 day moving average price of $210.74.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. Broadcom’s dividend payout ratio (DPR) is 88.39%.

Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider now directly owns 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,334 shares of company stock worth $163,560,669 in the last 90 days. Insiders own 2.00% of the company’s stock.

About Broadcom

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.