Broadcom Inc. (NASDAQ:AVGO) Shares Sold by TTP Investments Inc.

TTP Investments Inc. reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,521 shares of the semiconductor manufacturer's stock after selling 35,128 shares during the quarter. Broadcom accounts for approximately 1.8% of TTP Investments Inc.'s holdings, making the stock its 15th biggest holding. TTP Investments Inc.'s holdings in Broadcom were worth $4,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SlateStone Wealth LLC boosted its position in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares during the period. True Wealth Design LLC boosted its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the period. Bfsg LLC boosted its position in Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after buying an additional 50 shares during the period. Global Strategic Investment Solutions LLC boosted its position in Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after buying an additional 50 shares during the period. Finally, Cascade Financial Partners LLC boosted its position in Broadcom by 1.8% in the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after buying an additional 50 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,134 shares of company stock worth $163,760,949. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 0.5%

NASDAQ:AVGO traded down $1.27 during midday trading on Friday, hitting $249.99. 42,100,140 shares of the company were exchanged, compared to its average volume of 29,751,829. The company has a fifty day simple moving average of $220.48 and a 200 day simple moving average of $212.17. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.18 trillion, a PE ratio of 93.63, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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 firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the business earned $10.96 EPS. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. Broadcom's dividend payout ratio is presently 88.39%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVGO. Barclays raised their price target on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Benchmark raised their price target on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Finally, KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $276.09.

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.