Fairvoy Private Wealth LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,390 shares of the semiconductor manufacturer's stock after selling 2,381 shares during the period. Broadcom makes up 1.2% of Fairvoy Private Wealth LLC's portfolio, making the stock its 22nd largest holding. Fairvoy Private Wealth LLC's holdings in Broadcom were worth $4,418,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the period. Geode Capital Management LLC grew its position in Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC raised its stake in Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after acquiring an additional 2,873,809 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadcom during the 4th quarter worth about $16,893,010,000. Finally, Northern Trust Corp lifted its holdings in Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. 76.43% of the stock is owned by institutional investors.
Insider Transactions at Broadcom
In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $2,528,800.00. Following the sale, the insider now directly owns 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 730,576 shares of company stock worth $133,778,494. Company insiders own 2.00% of the company's stock.
Broadcom Price Performance
Shares of NASDAQ:AVGO traded up $4.44 during midday trading on Monday, hitting $253.14. The stock had a trading volume of 8,703,313 shares, compared to its average volume of 30,299,027. The company's 50-day moving average price is $213.01 and its 200-day moving average price is $209.85. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.19 trillion, a P/E ratio of 206.39, a price-to-earnings-growth 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 earnings per share for the quarter, topping 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 net margin of 11.43% and a return on equity of 28.00%. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.96 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom declared that its board has authorized a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is currently 88.39%.
Analyst Ratings Changes
Several equities analysts have issued reports on AVGO shares. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. UBS Group increased their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities boosted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $276.09.
Check Out Our Latest Research Report on AVGO
About Broadcom
(
Free Report)
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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