E Fund Management Hong Kong Co. Ltd. Has $244,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

E Fund Management Hong Kong Co. Ltd. decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 51.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,456 shares of the semiconductor manufacturer’s stock after selling 1,561 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Broadcom were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SlateStone Wealth LLC raised its holdings in shares of Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after acquiring an additional 47 shares during the period. True Wealth Design LLC grew its position in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares in the last quarter. Global Strategic Investment Solutions LLC grew its position in Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock worth $782,000 after purchasing an additional 50 shares in the last quarter. Cascade Financial Partners LLC raised its stake in Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer’s stock valued at $668,000 after purchasing an additional 50 shares during the period. Finally, Samalin Investment Counsel LLC lifted its holdings in shares of Broadcom by 1.0% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock valued at $1,155,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Mizuho lifted their price target on Broadcom from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, June 6th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Benchmark increased their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, Wells Fargo & Company raised their price target on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $276.09.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 875,444 shares of company stock worth $172,097,492. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $253.77 on Tuesday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The stock’s 50-day moving average is $221.98 and its two-hundred day moving average is $213.28. The firm has a market cap of $1.19 trillion, a P/E ratio of 95.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. 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 (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the firm posted $10.96 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, June 20th. Broadcom’s dividend payout ratio is 88.39%.

Broadcom announced that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is 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.