Broadcom Inc. $AVGO Shares Sold by Unique Wealth LLC

Unique Wealth LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 34.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,320 shares of the semiconductor manufacturer’s stock after selling 2,237 shares during the quarter. Unique Wealth LLC’s holdings in Broadcom were worth $1,337,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. RFG Holdings Inc. increased its holdings in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after buying an additional 26 shares during the last quarter. Baring Financial LLC boosted its holdings in Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after acquiring an additional 29 shares during the last quarter. Five Oceans Advisors grew its position in Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after acquiring an additional 29 shares during the period. Solitude Financial Services grew its position in Broadcom by 0.5% during the first quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer’s stock valued at $1,773,000 after acquiring an additional 29 shares during the period. Finally, Financial Management Network Inc. increased its stake in Broadcom by 0.6% during the first quarter. Financial Management Network Inc. now owns 5,032 shares of the semiconductor manufacturer’s stock worth $1,557,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $372.45 on Tuesday. The business’s 50 day moving average is $411.18 and its two-hundred day moving average is $362.85. Broadcom Inc. has a 52-week low of $262.66 and a 52-week high of $495.00. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 62.08, a PEG ratio of 0.64 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. Analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. KeyCorp reiterated an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Check Out Our Latest Stock Report on AVGO

Broadcom Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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