Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Heritage Family Offices LLP

Heritage Family Offices LLP trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,356 shares of the semiconductor manufacturer's stock after selling 2,279 shares during the period. Broadcom comprises approximately 1.1% of Heritage Family Offices LLP's investment portfolio, making the stock its 20th largest holding. Heritage Family Offices LLP's holdings in Broadcom were worth $2,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the fourth quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last ninety days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Truist Financial increased their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Barclays decreased their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Susquehanna upped their price target on shares of Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Finally, Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average price target of $246.00.

Broadcom Trading Up 1.6%

AVGO stock traded up $4.23 during trading on Wednesday, hitting $261.08. The company had a trading volume of 31,461,945 shares, compared to its average volume of 30,877,263. 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 firm has a market capitalization of $1.23 trillion, a P/E ratio of 212.95, a PEG ratio of 2.29 and a beta of 1.11. The company has a 50 day simple moving average of $198.47 and a 200-day simple moving average of $204.62. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.31.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in 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 board believes its shares are undervalued.

Broadcom Company 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.