Bolthouse Investments LLC Sells 1,868 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bolthouse Investments LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,512 shares of the semiconductor manufacturer's stock after selling 1,868 shares during the quarter. Broadcom comprises about 2.4% of Bolthouse Investments LLC's investment portfolio, making the stock its 10th biggest position. Bolthouse Investments LLC's holdings in Broadcom were worth $2,262,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after buying an additional 31,225 shares in the last quarter. Highview Capital Management LLC DE lifted its position in Broadcom by 1.3% during the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after acquiring an additional 322 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Broadcom by 46.2% in the 4th quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after acquiring an additional 6,168 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Susquehanna increased their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $281.46.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the firm'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 transaction of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock traded up $1.58 during trading on Monday, hitting $276.76. The stock had a trading volume of 6,716,101 shares, compared to its average volume of 28,489,154. The business has a fifty day moving average of $238.77 and a two-hundred day moving average of $217.17. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The firm has a market cap of $1.30 trillion, a P/E ratio of 103.68, a PEG ratio of 1.96 and a beta of 1.12. 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 (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the firm posted $10.96 EPS. The business's revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.