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

Root Financial Partners LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 30.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,449 shares of the semiconductor manufacturer's stock after selling 2,380 shares during the quarter. Root Financial Partners LLC's holdings in Broadcom were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AVGO. Tallon Kerry Patrick acquired a new position in shares of Broadcom in the 4th quarter valued at about $357,000. LaFleur & Godfrey LLC raised its stake in Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after acquiring an additional 12,345 shares during the period. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Broadcom by 50.6% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after purchasing an additional 355 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AVGO shares. William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Citigroup boosted their price target on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Susquehanna lifted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $281.25.

Broadcom Trading Down 0.3%

Shares of Broadcom stock opened at $269.35 on Monday. The business has a fifty day simple moving average of $229.43 and a 200-day simple moving average of $215.75. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $274.15. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. 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 for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during 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 revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $10.96 EPS. On average, equities 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 will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.88%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director now directly owns 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $2,528,800.00. Following the sale, the insider now directly owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 811,716 shares of company stock valued at $209,906,771. Corporate 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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