Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Retireful LLC

Retireful LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,298 shares of the semiconductor manufacturer's stock after selling 969 shares during the period. Retireful LLC's holdings in Broadcom were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Canton Hathaway LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the 4th quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter valued at approximately $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO stock traded down $12.98 during midday trading on Friday, hitting $246.95. 41,055,118 shares of the stock traded hands, compared to its average volume of 30,954,276. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock's fifty day simple moving average is $202.16 and its 200-day simple moving average is $205.65. The firm has a market cap of $1.16 trillion, a P/E ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the firm earned $10.96 EPS. The company's quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has approved a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AVGO shares. Rosenblatt Securities lifted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday. Mizuho raised their target price on Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday. Barclays cut their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $270.25.

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.