SFE Investment Counsel Has $10.34 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

SFE Investment Counsel decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,764 shares of the semiconductor manufacturer's stock after selling 4,582 shares during the period. Broadcom makes up approximately 2.1% of SFE Investment Counsel's holdings, making the stock its 10th largest holding. SFE Investment Counsel's holdings in Broadcom were worth $10,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC grew its holdings in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after purchasing an additional 137 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Broadcom stock traded up $1.47 during mid-day trading on Friday, reaching $290.18. The company had a trading volume of 12,031,575 shares, compared to its average volume of 17,076,324. The stock's 50-day simple moving average is $260.05 and its 200-day simple moving average is $222.13. 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 1 year low of $128.50 and a 1 year high of $292.59. The company has a market capitalization of $1.36 trillion, a P/E ratio of 108.68, a P/E/G ratio of 2.06 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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. The firm 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 firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. Broadcom's payout ratio is currently 88.39%.

Broadcom declared that its Board of Directors has approved a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AVGO shares. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a report on Tuesday, June 24th. Barclays upped their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Rosenblatt Securities upped their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Mizuho increased their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI reissued an "outperform" rating and issued a $304.00 target price (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $292.08.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 473,898 shares of the company's 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 owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 over the last three months. Insiders own 2.00% of the company's stock.

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.