Y.D. More Investments Ltd Has $1.65 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Y.D. More Investments Ltd reduced its stake in Broadcom Inc. by 25.7%, resulting in ownership of 9,710 shares valued at approximately $1.65 million.
• Other institutional investors also increased their positions in Broadcom, with Brighton Jones LLC boosting their stake by 21.8%, now owning 29,683 shares valued at around $6.88 million.
• Broadcom's stock was last reported at $301.67, with a recent dividend of $0.59 per share, contributing to an annualized yield of 0.8%.

Y.D. More Investments Ltd lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,710 shares of the semiconductor manufacturer's stock after selling 3,354 shares during the period. Y.D. More Investments Ltd's holdings in Broadcom were worth $1,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. WealthPlan Investment Management LLC lifted its position in Broadcom by 46.1% during the 1st quarter. WealthPlan Investment Management LLC now owns 13,055 shares of the semiconductor manufacturer's stock worth $2,186,000 after acquiring an additional 4,121 shares during the last quarter. Potentia Wealth lifted its position in Broadcom by 75.5% during the 1st quarter. Potentia Wealth now owns 1,790 shares of the semiconductor manufacturer's stock worth $300,000 after acquiring an additional 770 shares during the last quarter. CenterBook Partners LP acquired a new position in Broadcom during the 1st quarter worth $17,943,000. Arjuna Capital lifted its position in Broadcom by 14.1% during the 1st quarter. Arjuna Capital now owns 25,148 shares of the semiconductor manufacturer's stock worth $4,211,000 after acquiring an additional 3,108 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Broadcom during the 1st quarter worth $9,600,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly 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. In the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Barclays boosted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Redburn Atlantic initiated coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, Mizuho boosted their price objective on shares of Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $294.92.

Broadcom Price Performance

Broadcom stock traded up $1.21 during trading hours on Friday, hitting $304.97. 12,439,353 shares of the stock were exchanged, compared to its average volume of 17,052,154. 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 stock has a market capitalization of $1.43 trillion, a P/E ratio of 114.22, a P/E/G ratio of 2.16 and a beta of 1.15. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $310.34. The business's 50-day moving average is $272.87 and its two-hundred day moving average is $226.82.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 firm 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%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.96 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

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.