Saxony Capital Management LLC Has $996,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Saxony Capital Management LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,948 shares of the semiconductor manufacturer's stock after selling 950 shares during the quarter. Saxony Capital Management LLC's holdings in Broadcom were worth $996,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom in the fourth quarter valued at about $32,000. Institutional investors own 76.43% of the company's stock.

Insider Activity

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale 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 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 completion of the sale, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 811,716 shares of company stock worth $209,906,771 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVGO. Oppenheimer raised their target price on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Barclays lifted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Citigroup lifted their price target on shares of Broadcom from $276.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $281.25.

Broadcom Stock Down 0.3%

Shares of AVGO traded down $0.82 during mid-day trading on Friday, hitting $269.35. 27,450,264 shares of the company's stock were exchanged, compared to its average volume of 29,072,842. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $273.09. The company has a market cap of $1.27 trillion, a PE ratio of 100.88, a P/E/G ratio of 1.92 and a beta of 1.11. The company has a 50-day simple moving average of $227.46 and a 200 day simple moving average of $214.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS 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 business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has initiated a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.88%. Broadcom's dividend payout ratio is 88.39%.

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.