Kintegral Advisory LLC Has $4.55 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Kintegral Advisory LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,173 shares of the semiconductor manufacturer's stock after selling 13,325 shares during the quarter. Kintegral Advisory LLC's holdings in Broadcom were worth $4,550,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Norges Bank bought a new position in Broadcom during the 4th quarter valued at $16,893,010,000. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after acquiring an additional 15,171,849 shares during the last quarter. GQG Partners LLC lifted its position in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after buying an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Broadcom stock traded up $4.97 during trading hours on Friday, hitting $274.87. 10,592,655 shares of the company traded hands, compared to its average volume of 28,575,138. The firm has a market cap of $1.29 trillion, a P/E ratio of 102.95, a P/E/G ratio of 1.96 and a beta of 1.12. 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 firm's 50-day simple moving average is $238.77 and its two-hundred day simple moving average is $217.17. 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 released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $10.96 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Broadcom declared that its Board of Directors has approved a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Truist Financial set a $295.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Finally, Barclays raised their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $281.46.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction dated 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 $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by insiders.

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.