Broadcom Inc. (NASDAQ:AVGO) Position Lessened by Impact Capital Partners LLC

Impact Capital Partners LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.6% during the first quarter, HoldingsChannel reports. The fund owned 33,430 shares of the semiconductor manufacturer’s stock after selling 3,558 shares during the quarter. Broadcom comprises about 2.0% of Impact Capital Partners LLC’s holdings, making the stock its 5th largest position. Impact Capital Partners LLC’s holdings in Broadcom were worth $5,597,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC boosted its position in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Kovack Advisors Inc. boosted its position in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock worth $7,971,000 after purchasing an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock worth $245,000 after purchasing an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after purchasing an additional 86,884 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $246.95 on Friday. The stock has a 50-day simple moving average of $203.73 and a two-hundred day simple moving average of $206.22. The firm has a market capitalization of $1.16 trillion, a P/E ratio of 201.43, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom’s payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVGO shares. Benchmark raised their price objective on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday. Susquehanna raised their price objective on Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a research report on Friday. Citigroup reissued a “buy” rating and issued a $276.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.25.

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.