Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,416 shares of the semiconductor manufacturer's stock after selling 1,684 shares during the period. Cutter & CO Brokerage Inc.'s holdings in Broadcom were worth $2,414,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. SlateStone Wealth LLC raised its holdings in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC raised its holdings in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares in the last quarter. Samalin Investment Counsel LLC raised its holdings in Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after purchasing an additional 50 shares in the last quarter. Mizuho Bank Ltd. raised its holdings in Broadcom by 7.1% in the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock worth $174,000 after purchasing an additional 50 shares in the last quarter. Finally, Fulton Breakefield Broenniman LLC raised its holdings in Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after purchasing an additional 50 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 828,916 shares of company stock worth $216,785,761. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Bank of America raised their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group raised their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Redburn Atlantic assumed coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Finally, Mizuho lifted their price objective on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $291.88.

Broadcom Stock Performance

Shares of AVGO stock traded up $5.34 during trading hours on Tuesday, reaching $280.94. 17,895,803 shares of the company traded hands, compared to its average volume of 28,036,148. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $283.24. 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 cap of $1.32 trillion, a P/E ratio of 105.22, a P/E/G ratio of 1.96 and a beta of 1.12. The firm has a 50-day moving average price of $248.20 and a 200 day moving average price of $218.77.

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, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the previous year, the firm earned $10.96 EPS. The business's quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

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.