Integrated Advisors Network LLC Sells 42,154 Shares of Broadcom Inc. (NASDAQ:AVGO)

Integrated Advisors Network LLC cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,265 shares of the semiconductor manufacturer's stock after selling 42,154 shares during the quarter. Integrated Advisors Network LLC's holdings in Broadcom were worth $10,258,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. SlateStone Wealth LLC increased its stake in shares of 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 buying an additional 47 shares during the period. True Wealth Design LLC increased its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the period. DT Investment Partners LLC increased its stake in shares of Broadcom by 0.9% in the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after buying an additional 50 shares during the period. Bfsg LLC increased its stake in shares of Broadcom by 12.5% in the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after buying an additional 50 shares during the period. Finally, Global Strategic Investment Solutions LLC increased its stake in shares of Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after buying an additional 50 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider now owns 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 730,576 shares of company stock worth $133,778,494 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 2.9%

NASDAQ:AVGO traded down $7.37 on Friday, hitting $248.70. The stock had a trading volume of 19,002,301 shares, compared to its average volume of 30,383,406. The business's fifty day moving average is $213.01 and its 200 day moving average is $209.15. The company has a market cap of $1.17 trillion, a PE ratio of 202.86, a P/E/G ratio of 2.29 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.96 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date 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 is presently 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Benchmark increased their price target on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Evercore ISI reissued an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley increased their price target on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Oppenheimer increased their price target on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Susquehanna raised their target price on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $276.09.

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.