Broadcom Inc. (NASDAQ:AVGO) Shares Sold by One Day In July LLC

One Day In July LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,610 shares of the semiconductor manufacturer’s stock after selling 160 shares during the period. One Day In July LLC’s holdings in Broadcom were worth $270,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC grew its stake in shares of Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after acquiring an additional 86,884 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of Broadcom by 14.6% during the fourth quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer’s stock valued at $2,338,000 after acquiring an additional 1,285 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Broadcom by 7.3% during the fourth quarter. Mackenzie Financial Corp now owns 2,695,694 shares of the semiconductor manufacturer’s stock valued at $624,970,000 after acquiring an additional 183,474 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO opened at $274.87 on Friday. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. 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 firm has a market capitalization of $1.29 trillion, a PE ratio of 102.95, a P/E/G ratio of 1.96 and a beta of 1.12. The company’s 50 day simple moving average is $238.77 and its 200 day simple moving average is $217.17.

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

Broadcom Announces Dividend

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

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Cowen reiterated a “buy” rating on shares of Broadcom in a research note on Friday, June 6th. Barclays lifted their price target on Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Evercore ISI reiterated an “outperform” rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price target for the company. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $281.46.

Insider Buying and Selling at Broadcom

In other Broadcom news, 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 value of $29,782,175.78. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is currently owned by company insiders.

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.