Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Catalina Capital Group LLC

Catalina Capital Group LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 68.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,382 shares of the semiconductor manufacturer's stock after selling 13,607 shares during the period. Catalina Capital Group LLC's holdings in Broadcom were worth $1,069,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Tallon Kerry Patrick acquired a new stake in shares of Broadcom in the 4th quarter worth $357,000. Capital & Planning LLC lifted its stake in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC lifted its stake in shares of Broadcom by 18.7% in the 4th 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 stake in shares of Broadcom by 21.8% in the 4th 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 period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Broadcom in the fourth quarter valued at about $71,312,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $250.35, for a total transaction of $200,280.00. Following the completion of the sale, the director now owns 25,382 shares of the company's stock, valued at approximately $6,354,383.70. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,134 shares of company stock worth $163,760,949 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 0.5%

Shares of NASDAQ AVGO traded down $1.27 during midday trading on Friday, reaching $249.99. 42,100,140 shares of the stock were exchanged, compared to its average volume of 29,469,720. The company has a market capitalization of $1.18 trillion, a P/E ratio of 93.63, a P/E/G ratio of 1.78 and a beta of 1.11. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $220.48 and a 200-day moving average price of $212.46.

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, topping analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.96 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date 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 (DPR) is presently 88.39%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVGO. Oppenheimer raised their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, UBS Group raised their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $276.09.

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.