Leeward Financial Partners LLC Has $1.53 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Leeward Financial Partners LLC reduced its position in Broadcom Inc. by 15.2%, holding 9,107 shares valued at $1,525,000 after selling 1,636 shares in the 1st quarter.
• Broadcom's recent quarterly earnings showed a net revenue increase of 20.2% year-over-year, with earnings per share of $1.58, slightly above analyst estimates.
• The company announced a quarterly dividend of $0.59, representing a yield of 0.8%, with a payout ratio of 88.39%.

Leeward Financial Partners LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,107 shares of the semiconductor manufacturer's stock after selling 1,636 shares during the quarter. Leeward Financial Partners LLC's holdings in Broadcom were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its stake in 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 purchasing an additional 48 shares in the last quarter. Fulton Breakefield Broenniman LLC grew its stake in Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after purchasing an additional 50 shares in the last quarter. American Financial Advisors LLC grew its stake in Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after purchasing an additional 52 shares in the last quarter. GS Investments Inc. grew its stake in Broadcom by 0.5% in the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after purchasing an additional 52 shares in the last quarter. Finally, First Bank & Trust grew its stake in Broadcom by 1.9% in the first quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $8.74 during trading on Wednesday, reaching $301.67. 17,275,421 shares of the company traded hands, compared to its average volume of 17,267,806. The company's 50 day moving average is $270.33 and its two-hundred day moving average is $225.92. The firm has a market capitalization of $1.42 trillion, a PE ratio of 112.99, a PEG ratio of 2.08 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $306.95.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $10.96 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's payout ratio is 88.39%.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 in the last three months. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. The Goldman Sachs Group initiated coverage on Broadcom in a research note on Thursday, July 10th. They issued a "buy" rating and a $315.00 price target for the company. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $294.92.

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.