Broadcom Inc. (NASDAQ:AVGO) Shares Sold by DeDora Capital Inc.

DeDora Capital Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,812 shares of the semiconductor manufacturer's stock after selling 3,450 shares during the period. Broadcom comprises about 1.2% of DeDora Capital Inc.'s holdings, making the stock its 22nd largest position. DeDora Capital Inc.'s holdings in Broadcom were worth $4,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter worth about $30,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $32,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at $25,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at $26,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ:AVGO traded down $8.36 during midday trading on Tuesday, reaching $279.85. The stock had a trading volume of 8,170,099 shares, compared to its average volume of 27,701,460. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $290.54. The firm's fifty day simple moving average is $254.41 and its 200-day simple moving average is $220.17. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 105.07, a PEG ratio of 2.02 and a beta of 1.12.

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

Broadcom Announces Dividend

The firm also recently declared 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. This represents a $2.36 annualized dividend and a dividend yield of 0.84%. 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 approved a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on AVGO shares. Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Barclays boosted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Evercore ISI reissued an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. One investment 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.com, the stock has an average rating of "Buy" and a consensus target price of $292.08.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the sale, the director directly owned 24,582 shares in the company, valued at approximately $6,742,842.60. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 over the last 90 days. 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.

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