Broadcom Inc. (NASDAQ:AVGO) is RDA Financial Network's 6th Largest Position

RDA Financial Network lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,072 shares of the semiconductor manufacturer's stock after selling 2,504 shares during the quarter. Broadcom accounts for about 2.4% of RDA Financial Network's portfolio, making the stock its 6th largest holding. RDA Financial Network's holdings in Broadcom were worth $8,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AVGO. Tallon Kerry Patrick acquired a new stake in Broadcom during the fourth quarter valued at $357,000. Capital & Planning LLC grew its position in shares of Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC increased its stake in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after purchasing an additional 12,345 shares in the last quarter. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Broadcom during the fourth quarter worth approximately $71,312,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on AVGO shares. Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Friday. Benchmark boosted their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Mizuho increased their price objective on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a report on Friday. Evercore ISI upped their price target on shares of Broadcom from $267.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $270.25.

Broadcom Price Performance

AVGO stock opened at $246.95 on Friday. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.16 trillion, a price-to-earnings ratio of 201.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The business has a fifty day moving average of $203.73 and a two-hundred day moving average of $206.52.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (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 28.00% and a net margin of 11.43%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 113.46%.

Broadcom announced that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

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.

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