Highview Capital Management LLC DE Has $3.52 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Highview Capital Management LLC DE reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,046 shares of the semiconductor manufacturer's stock after selling 4,476 shares during the quarter. Broadcom comprises 1.5% of Highview Capital Management LLC DE's holdings, making the stock its 19th largest holding. Highview Capital Management LLC DE's holdings in Broadcom were worth $3,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ninety One UK Ltd lifted its stake in Broadcom by 8.6% in the first quarter. Ninety One UK Ltd now owns 3,291,690 shares of the semiconductor manufacturer's stock valued at $551,128,000 after buying an additional 262,051 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Broadcom by 14.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 167,320 shares of the semiconductor manufacturer's stock valued at $28,014,000 after buying an additional 21,726 shares during the period. Alpha Cubed Investments LLC lifted its stake in Broadcom by 66.8% in the first quarter. Alpha Cubed Investments LLC now owns 27,966 shares of the semiconductor manufacturer's stock valued at $4,682,000 after buying an additional 11,199 shares during the period. Horst & Graben Wealth Management LLC lifted its stake in Broadcom by 45.8% in the first quarter. Horst & Graben Wealth Management LLC now owns 4,873 shares of the semiconductor manufacturer's stock valued at $816,000 after buying an additional 1,530 shares during the period. Finally, Davidson Investment Advisors lifted its stake in Broadcom by 2.9% in the first quarter. Davidson Investment Advisors now owns 140,055 shares of the semiconductor manufacturer's stock valued at $23,449,000 after buying an additional 3,969 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 0.4%

AVGO stock opened at $274.18 on Tuesday. The stock's fifty day simple moving average is $240.40 and its two-hundred day simple moving average is $217.54. 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 1-year low of $128.50 and a 1-year high of $277.71. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.69, a P/E/G ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share 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 for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the previous year, the firm earned $10.96 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has approved a share repurchase 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 reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.86%. Broadcom's dividend payout ratio is currently 88.39%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Citigroup boosted their price target on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday. Susquehanna boosted their price objective on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Redburn Atlantic started coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Benchmark boosted their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus price target of $282.71.

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.

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