Aubrey Capital Management Ltd Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Aubrey Capital Management Ltd cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,600 shares of the semiconductor manufacturer's stock after selling 2,800 shares during the period. Broadcom makes up about 1.3% of Aubrey Capital Management Ltd's portfolio, making the stock its 23rd biggest holding. Aubrey Capital Management Ltd's holdings in Broadcom were worth $3,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the period. Nebula Research & Development LLC lifted its stake in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Kovack Advisors Inc. lifted its stake in Broadcom by 8.1% during the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after purchasing an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after purchasing an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Redburn Atlantic began coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target on the stock. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Bank of America lifted their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Oppenheimer upped their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $272.71.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction 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 of the company's stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the 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 transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 730,576 shares of company stock worth $133,778,494 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 2.9%

NASDAQ:AVGO traded down $7.37 on Friday, reaching $248.70. 19,002,301 shares of the stock traded hands, compared to its average volume of 30,540,402. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company's 50 day moving average is $211.15 and its 200-day moving average is $208.57. 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 1-year low of $128.50 and a 1-year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $10.96 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Broadcom declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.