Broadcom Inc. (NASDAQ:AVGO) Shares Sold by SkyOak Wealth LLC

SkyOak Wealth LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 51.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,270 shares of the semiconductor manufacturer's stock after selling 5,600 shares during the period. SkyOak Wealth LLC's holdings in Broadcom were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC boosted its stake in shares of Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after purchasing an additional 137 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Oppenheimer lifted their target price on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Rosenblatt Securities upped their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Wells Fargo & Company raised their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $290.21.

Broadcom Price Performance

Shares of AVGO opened at $274.38 on Friday. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $281.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a fifty day moving average price of $246.70 and a 200 day moving average price of $218.87. The company has a market cap of $1.29 trillion, a P/E ratio of 102.76, a PEG ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The business 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 company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.96 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its board has approved a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 829,716 shares of company stock valued at $216,933,761. 2.00% of the stock is currently owned by insiders.

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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