Ewa LLC Has $1.18 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

EWA LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,064 shares of the semiconductor manufacturer's stock after purchasing an additional 1,451 shares during the quarter. EWA LLC's holdings in Broadcom were worth $1,183,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the fourth quarter valued at about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock traded down $1.27 during midday trading on Friday, hitting $249.99. The stock had a trading volume of 42,100,140 shares, compared to its average volume of 29,469,720. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. 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 stock has a 50-day simple moving average of $220.48 and a 200 day simple moving average of $212.76. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 93.63, a P/E/G ratio of 1.78 and a beta of 1.11.

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

Broadcom announced that its board has authorized a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.94%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the insider now directly owns 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 849,134 shares of company stock valued at $163,760,949 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. Benchmark upped their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Evercore ISI restated an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $276.09.

About Broadcom

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.