Broadcom Inc. (NASDAQ:AVGO) Shares Sold by ORG Partners LLC

ORG Partners LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,004 shares of the semiconductor manufacturer's stock after selling 2,964 shares during the period. ORG Partners LLC's holdings in Broadcom were worth $526,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.5%

AVGO opened at $249.99 on Friday. The firm has a market capitalization of $1.18 trillion, a P/E ratio of 93.63, a P/E/G ratio of 1.79 and a beta of 1.11. The firm's 50 day moving average is $220.48 and its 200-day moving average is $212.17. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $10.96 earnings per share. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. Broadcom's dividend payout ratio is currently 88.39%.

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Benchmark increased their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Sunday, June 15th. Rosenblatt Securities increased their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Morgan Stanley increased their price objective on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $276.09.

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,134 shares of company stock worth $163,760,949 over the last 90 days. Company insiders own 2.00% of the company's stock.

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.

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