Little House Capital LLC Sells 2,957 Shares of Broadcom Inc. (NASDAQ:AVGO)

Little House Capital LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,366 shares of the semiconductor manufacturer's stock after selling 2,957 shares during the quarter. Broadcom makes up about 1.6% of Little House Capital LLC's holdings, making the stock its 20th largest position. Little House Capital LLC's holdings in Broadcom were worth $5,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC bought a new stake in Broadcom during the 1st quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the fourth quarter valued at $32,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. Bank of America boosted their price objective on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Susquehanna raised their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $281.25.

Broadcom Stock Performance

Shares of AVGO stock opened at $269.35 on Friday. The company has a market capitalization of $1.27 trillion, a P/E ratio of 100.88, a PEG ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $271.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a 50 day moving average price of $229.43 and a two-hundred day moving average price of $215.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.96 earnings per share. Analysts expect 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 will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom announced that its board has approved a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was 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 approximately $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 can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 811,716 shares of company stock worth $209,906,771 over the last quarter. 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.

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