Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,005 shares of the semiconductor manufacturer's stock after selling 2,522 shares during the period. Dynamic Advisor Solutions LLC's holdings in Broadcom were worth $17,748,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Tcfg Wealth Management LLC grew its stake in shares of Broadcom by 10.0% in the first quarter. Tcfg Wealth Management LLC now owns 6,205 shares of the semiconductor manufacturer's stock worth $1,039,000 after acquiring an additional 563 shares in the last quarter. Grant Private Wealth Management Inc boosted its holdings in Broadcom by 5.8% in the first quarter. Grant Private Wealth Management Inc now owns 8,529 shares of the semiconductor manufacturer's stock valued at $1,418,000 after purchasing an additional 467 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Broadcom by 1,023.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 252,450 shares of the semiconductor manufacturer's stock worth $42,267,000 after purchasing an additional 229,985 shares in the last quarter. Dover Advisors LLC grew its stake in Broadcom by 63.1% during the 1st quarter. Dover Advisors LLC now owns 9,561 shares of the semiconductor manufacturer's stock worth $1,601,000 after purchasing an additional 3,699 shares in the last quarter. Finally, CRA Financial Services LLC increased its holdings in Broadcom by 3.0% during the 1st quarter. CRA Financial Services LLC now owns 23,710 shares of the semiconductor manufacturer's stock worth $3,970,000 after purchasing an additional 681 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Redburn Atlantic started coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Morgan Stanley increased their price objective on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Susquehanna lifted their price objective 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 increased their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, KeyCorp raised their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $276.09.

Broadcom Stock Performance

AVGO traded down $2.73 on Tuesday, hitting $249.37. 21,975,061 shares of the company traded hands, compared to its average volume of 30,081,358. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The company has a 50 day moving average of $214.93 and a 200-day moving average of $210.47. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.17 trillion, a PE ratio of 93.40, a PEG ratio of 1.79 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the prior year, the business earned $10.96 earnings per share. The company'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 earnings per share for the current year.

Broadcom Announces Dividend

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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.95%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 848,334 shares of company stock valued at $163,560,669 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

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.