Donaldson Capital Management LLC Sells 25,989 Shares of Broadcom Inc. (NASDAQ:AVGO)

Donaldson Capital Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 556,764 shares of the semiconductor manufacturer's stock after selling 25,989 shares during the quarter. Broadcom accounts for 3.5% of Donaldson Capital Management LLC's investment portfolio, making the stock its 6th biggest position. Donaldson Capital Management LLC's holdings in Broadcom were worth $93,219,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. SlateStone Wealth LLC increased its stake in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC grew its position in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the last quarter. DT Investment Partners LLC grew its position in shares of Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock worth $1,251,000 after acquiring an additional 50 shares during the last quarter. Bfsg LLC grew its position in shares of Broadcom by 12.5% during the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after acquiring an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC grew its position in shares of Broadcom by 1.5% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Evercore ISI restated an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Bank of America raised their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $276.09.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated 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 owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 730,576 shares of company stock worth $133,778,494 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock traded down $7.37 during midday trading on Friday, reaching $248.70. 19,002,301 shares of the company were exchanged, compared to its average volume of 30,383,406. The company has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a P/E/G ratio of 2.29 and a beta of 1.11. The firm's 50-day simple moving average is $213.01 and its 200-day simple moving average is $209.50. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $10.96 EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.