TTP Investments Inc. Has $4.27 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

TTP Investments Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 57.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 25,521 shares of the semiconductor manufacturer’s stock after selling 35,128 shares during the period. Broadcom accounts for about 1.8% of TTP Investments Inc.’s holdings, making the stock its 15th largest position. TTP Investments Inc.’s holdings in Broadcom were worth $4,273,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SlateStone Wealth LLC increased its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after acquiring an additional 48 shares during the last quarter. Bfsg LLC increased its holdings in shares of Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock valued at $105,000 after acquiring an additional 50 shares during the last quarter. Global Strategic Investment Solutions LLC increased its holdings in shares of Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after acquiring an additional 50 shares during the last quarter. Finally, Cascade Financial Partners LLC increased its holdings in shares of Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer’s stock valued at $668,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AVGO. Bank of America increased 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. Truist Financial set a $295.00 target price on Broadcom and gave the company a “buy” rating in a research note on Friday, June 6th. Wall Street Zen downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group increased their target price on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Finally, Susquehanna increased their target price on Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.09.

Insider Buying and Selling

In related 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 sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer now directly owns 1,014,152 shares of the company’s stock, valued at $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,134 shares of company stock worth $163,760,949 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $251.26 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market capitalization of $1.18 trillion, a PE ratio of 94.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The business has a 50 day simple moving average of $217.54 and a 200 day simple moving average of $211.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate 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%. Broadcom’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $10.96 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced 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 dividend yield of 0.94%. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

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

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.