Fermata Advisors LLC Sells 1,103 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fermata Advisors LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,830 shares of the semiconductor manufacturer's stock after selling 1,103 shares during the period. Fermata Advisors LLC's holdings in Broadcom were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares in the last quarter. FMR LLC raised its position in Broadcom by 3.2% in 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 valued at $16,893,010,000. Finally, Northern Trust Corp boosted its holdings in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after buying an additional 5,258,925 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock traded down $12.98 on Friday, reaching $246.95. 41,055,118 shares of the company were exchanged, compared to its average volume of 30,954,201. The firm has a market capitalization of $1.16 trillion, a PE ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The stock's fifty day moving average price is $202.16 and its 200 day moving average price is $205.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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 for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the company earned $10.96 earnings per share. The business's revenue was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given 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 dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction 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. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 over the last 90 days. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a "buy" rating in a research report on Friday. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup reaffirmed a "buy" rating and set a $276.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday. Finally, Susquehanna increased their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $270.25.

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.