Broadcom Inc. (NASDAQ:AVGO) is FCG Investment Co's 8th Largest Position

Key Points

• FCG Investment Co has reduced its stake in Broadcom Inc. by 5.3%, making it the firm's 8th largest holding, with valued shares of approximately $3.8 million.
• Broadcom's recent quarterly earnings reported an EPS of $1.58, exceeding analysts' expectations, alongside a 20.2% year-over-year revenue increase to $15 billion.
• Insider sales have been significant, with Director Henry Samueli selling almost 474,000 shares and CEO Hock E. Tan selling over 117,000 shares recently.

FCG Investment Co decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,717 shares of the semiconductor manufacturer's stock after selling 1,277 shares during the quarter. Broadcom makes up approximately 2.4% of FCG Investment Co's holdings, making the stock its 8th largest holding. FCG Investment Co's holdings in Broadcom were worth $3,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated 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 transaction, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,286,457 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO opened at $306.34 on Friday. The company has a market cap of $1.44 trillion, a P/E ratio of 114.73, a PEG ratio of 2.18 and a beta of 1.15. The stock has a fifty day moving average price of $278.27 and a 200 day moving average price of $229.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned $10.96 EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Sunday. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $295.96.

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.

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