DSG Capital Advisors LLC Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

DSG Capital Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,608 shares of the semiconductor manufacturer's stock after selling 1,212 shares during the period. Broadcom accounts for approximately 3.6% of DSG Capital Advisors LLC's portfolio, making the stock its 5th largest holding. DSG Capital Advisors LLC's holdings in Broadcom were worth $17,682,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. Rialto Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter valued at $32,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the firm's 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 completion of the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. UBS Group lifted their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Barclays upped their target price on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $281.25.

Broadcom Stock Up 2.3%

Shares of NASDAQ:AVGO opened at $275.65 on Tuesday. The stock's 50-day moving average is $231.62 and its 200 day moving average is $216.10. The company has a market cap of $1.30 trillion, a PE ratio of 103.24, a P/E/G ratio of 1.92 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $277.71.

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

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

About Broadcom

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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