Broadcom Inc. (NASDAQ:AVGO) is Bolthouse Investments LLC’s 10th Largest Position

Bolthouse Investments LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,512 shares of the semiconductor manufacturer’s stock after selling 1,868 shares during the period. Broadcom makes up 2.4% of Bolthouse Investments LLC’s investment portfolio, making the stock its 10th largest position. Bolthouse Investments LLC’s holdings in Broadcom were worth $2,262,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the first quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Wells Fargo & Company upped their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Benchmark increased their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group increased their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $281.46.

Broadcom Stock Performance

AVGO opened at $274.87 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. The company’s 50 day moving average is $238.77 and its 200 day moving average is $217.17. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm posted $10.96 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s payout ratio is 88.39%.

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

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the sale, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. The trade was a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 854,716 shares of company stock valued at $221,433,761 in the last 90 days. 2.00% of the stock is owned by insiders.

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.