Yousif Capital Management LLC Reduces Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Yousif Capital Management LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 569,862 shares of the semiconductor manufacturer's stock after selling 2,828 shares during the period. Broadcom accounts for about 1.1% of Yousif Capital Management LLC's portfolio, making the stock its 8th largest holding. Yousif Capital Management LLC's holdings in Broadcom were worth $95,412,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in Broadcom during the 4th quarter worth approximately $357,000. Capital & Planning LLC boosted its holdings in Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC increased its holdings in shares of 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 purchasing an additional 12,345 shares during the period. Brighton Jones LLC boosted its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Broadcom in the 4th quarter valued at $71,312,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AVGO shares. Bank of America boosted their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company upped their price objective on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday. Barclays upped their price objective on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $272.71.

Broadcom Trading Up 0.1%

AVGO stock traded up $0.35 during trading on Tuesday, hitting $244.63. The company had a trading volume of 25,457,534 shares, compared to its average volume of 31,006,436. The stock has a market cap of $1.15 trillion, a PE ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average of $205.17 and a 200-day moving average of $207.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.96 earnings per share. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom declared that its Board of Directors has initiated 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 buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is owned by corporate 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.