DCF Advisers LLC Has $837,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• DCF Advisers LLC reduced its stake in Broadcom by 28.6%, selling 2,000 shares and retaining a total of 5,000 shares valued at $837,000.
• Institutional investors have shown strong interest in Broadcom, with 76.43% of the stock now owned by them, highlighting increased market confidence.
• Broadcom recently declared a quarterly dividend of $0.59 per share, resulting in an annualized yield of 0.8%, with a payout ratio of 88.39%.

DCF Advisers LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,000 shares of the semiconductor manufacturer's stock after selling 2,000 shares during the period. DCF Advisers LLC's holdings in Broadcom were worth $837,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AVGO. FMR LLC boosted its stake in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares in the last quarter. Northern Trust Corp grew its stake in shares of Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% 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 this link. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the transaction, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO traded down $5.06 during trading hours on Friday, reaching $288.64. 21,405,316 shares of the company's stock were exchanged, compared to its average volume of 17,067,202. The firm has a fifty day moving average of $266.56 and a 200-day moving average of $224.50. 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 one year low of $128.50 and a one year high of $306.95. The stock has a market cap of $1.36 trillion, a PE ratio of 108.10, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is 88.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Wells Fargo & Company upped their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Rosenblatt Securities boosted their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Oppenheimer boosted their target price on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Benchmark raised their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $294.92.

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.