Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Robeco Schweiz AG

Robeco Schweiz AG decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 96.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,500 shares of the semiconductor manufacturer's stock after selling 45,100 shares during the period. Robeco Schweiz AG's holdings in Broadcom were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom during the fourth quarter valued at $30,000. Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter worth about $32,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter worth about $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $26,000. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Morgan Stanley raised their target price on Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Redburn Atlantic initiated coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Broadcom in a research note on Thursday, July 10th. They issued a "buy" rating and a $315.00 price objective for the company. Finally, KeyCorp raised their price objective on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average price target of $291.88.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer directly owned 361,937 shares in the company, valued at $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. In the last 90 days, insiders sold 828,916 shares of company stock worth $216,785,761. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO traded up $5.34 on Tuesday, reaching $280.94. 17,888,985 shares of the company's stock traded hands, compared to its average volume of 28,015,973. The stock has a 50 day moving average price of $248.20 and a 200-day moving average price of $218.77. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 105.22, a P/E/G ratio of 1.95 and a beta of 1.12. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $283.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

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

Broadcom Announces Dividend

The company also recently declared 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 was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.84%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Broadcom announced that its board has approved a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Broadcom 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.