Broadcom Inc. (NASDAQ:AVGO) is NWK Group Inc.'s 6th Largest Position

Key Points

• NWK Group Inc. has reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3%, making it the sixth largest position in their portfolio, valued at $12.65 million.
• Broadcom's stock has seen substantial upgrades from analysts, with price targets raised by several brokerages, reflecting a strong consensus rating of "Buy" and a target price averaging $294.92.
• The company recently declared a quarterly dividend of $0.59, representing an annual yield of 0.8%, with a payout ratio currently at 88.39%.

NWK Group Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,570 shares of the semiconductor manufacturer's stock after selling 2,578 shares during the period. Broadcom accounts for about 5.8% of NWK Group Inc.'s investment portfolio, making the stock its 6th biggest holding. NWK Group Inc.'s holdings in Broadcom were worth $12,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. True Wealth Design LLC increased its position in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after purchasing an additional 50 shares during the period. American Financial Advisors LLC boosted its stake in Broadcom by 3.8% during the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after purchasing an additional 52 shares during the period. GS Investments Inc. boosted its stake in Broadcom by 0.5% during the 1st quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after purchasing an additional 52 shares during the period. Finally, First Bank & Trust lifted its stake in shares of Broadcom by 1.9% in the 1st quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock worth $493,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.4%

NASDAQ:AVGO traded down $1.07 on Monday, reaching $303.90. 12,361,228 shares of the stock traded hands, compared to its average volume of 26,440,119. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 113.82, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $310.34. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $272.87 and its 200-day moving average is $226.63.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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 company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted $10.96 EPS. 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's payout ratio is presently 88.39%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, 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. Insiders have sold 830,516 shares of company stock valued at $217,224,641 in the last ninety days. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Barclays upped their price target on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Oppenheimer upped their price objective on shares of Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $294.92.

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.