Windsor Capital Management LLC Sells 1,087 Shares of Broadcom Inc. (NASDAQ:AVGO)

Windsor Capital Management LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,447 shares of the semiconductor manufacturer's stock after selling 1,087 shares during the quarter. Windsor Capital Management LLC's holdings in Broadcom were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC lifted its position in shares of Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after buying an additional 137 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Mizuho increased their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday. Susquehanna raised their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Barclays raised their target price on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. The Goldman Sachs Group assumed coverage on Broadcom in a research report on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price on the stock. Finally, Rosenblatt Securities raised their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $292.08.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,224,641 over the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $3.20 during trading on Friday, hitting $283.25. The company had a trading volume of 8,763,953 shares, compared to its average volume of 27,827,795. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $288.28. 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 company has a market cap of $1.33 trillion, a P/E ratio of 105.99, a PEG ratio of 2.00 and a beta of 1.12. The business's 50-day moving average is $252.91 and its 200 day moving average is $219.98.

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

Broadcom Dividend Announcement

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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom declared that its board has authorized a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Broadcom Company 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.