Moody Lynn & Lieberson LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,134 shares of the semiconductor manufacturer's stock after selling 93,767 shares during the quarter. Broadcom accounts for 4.5% of Moody Lynn & Lieberson LLC's investment portfolio, making the stock its 3rd biggest position. Moody Lynn & Lieberson LLC's holdings in Broadcom were worth $69,506,000 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 modified their holdings of the stock. LaFleur & Godfrey LLC lifted its stake in shares of Broadcom by 18.7% in the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after acquiring an additional 12,345 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of Broadcom by 50.6% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after acquiring an additional 355 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after acquiring an additional 31,225 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on AVGO. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Citigroup upped their target price on Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, UBS Group upped their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $281.25.
Check Out Our Latest Report on Broadcom
Insider Activity at Broadcom
In other news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. This trade represents a 10.04% decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.
Broadcom Stock Performance
Shares of NASDAQ AVGO opened at $269.90 on Thursday. The stock has a fifty day moving average price of $235.38 and a two-hundred day moving average price of $216.81. 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 firm has a market cap of $1.27 trillion, a P/E ratio of 101.09, a PEG ratio of 1.88 and a beta of 1.12. 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 issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) 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 analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the company posted $10.96 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given 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 0.87%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.
Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy 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 Company Profile
(
Free Report)
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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