Anderson Hoagland & Co. Lowers Holdings in Broadcom Inc. (NASDAQ:AVGO)

Anderson Hoagland & Co. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,912 shares of the semiconductor manufacturer's stock after selling 2,244 shares during the period. Anderson Hoagland & Co.'s holdings in Broadcom were worth $3,255,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter worth $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 0.4%

NASDAQ:AVGO traded up $1.09 during mid-day trading on Thursday, hitting $262.17. The stock had a trading volume of 21,046,435 shares, compared to its average volume of 30,841,518. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The stock has a 50-day simple moving average of $200.31 and a two-hundred day simple moving average of $205.00. The company has a market capitalization of $1.23 trillion, a PE ratio of 213.84, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom declared that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVGO shares. KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup lifted their price target on shares of Broadcom from $210.00 to $276.00 and gave the stock a "buy" rating in a research note on Tuesday. Redburn Atlantic started coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Oppenheimer lifted their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Barclays decreased their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $246.00.

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.