Universal Beteiligungs und Servicegesellschaft mbH Trims Stake in Broadcom Inc. (NASDAQ:AVGO)

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,679,856 shares of the semiconductor manufacturer's stock after selling 87,325 shares during the quarter. Broadcom accounts for approximately 1.2% of Universal Beteiligungs und Servicegesellschaft mbH's holdings, making the stock its 9th largest position. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Broadcom worth $616,118,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. KeyCorp raised their price target on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Barclays lifted their target price on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, The Goldman Sachs Group started coverage on Broadcom in a research note on Thursday, July 10th. They set a "buy" rating and a $315.00 target price on the stock. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $292.08.

Insider Buying and Selling

In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the sale, the director owned 24,582 shares in the company, valued at approximately $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 830,516 shares of company stock worth $217,224,641. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $5.09 during trading hours on Thursday, hitting $288.78. 12,131,111 shares of the company's stock were exchanged, compared to its average volume of 27,228,270. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $291.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 108.16, a PEG ratio of 1.98 and a beta of 1.12. The company's 50-day moving average price is $257.70 and its 200-day moving average price is $221.40.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.96 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share 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 paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.82%. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its board has approved a share buyback 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 repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.