Carmignac Gestion Sells 312,137 Shares of Broadcom Inc. $AVGO

Key Points

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Carmignac Gestion trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 823,684 shares of the semiconductor manufacturer's stock after selling 312,137 shares during the quarter. Broadcom makes up about 2.2% of Carmignac Gestion's investment portfolio, making the stock its 17th largest holding. Carmignac Gestion's holdings in Broadcom were worth $137,909,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AVGO. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the fourth quarter worth $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the first quarter worth $25,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth $26,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO opened at $305.76 on Tuesday. The firm's fifty day simple moving average is $279.50 and its two-hundred day simple moving average is $230.48. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 114.52, a P/E/G ratio of 2.18 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $10.96 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's dividend payout ratio is presently 88.39%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Sunday. Benchmark upped their price target on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $295.96.

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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