FWG Holdings LLC Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

FWG Holdings LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,645 shares of the semiconductor manufacturer’s stock after selling 116 shares during the quarter. FWG Holdings LLC’s holdings in Broadcom were worth $778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after buying an additional 48 shares during the period. Samalin Investment Counsel LLC raised its holdings in shares of Broadcom by 1.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock valued at $1,155,000 after buying an additional 50 shares during the period. Mizuho Bank Ltd. increased its holdings in Broadcom by 7.1% during the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer’s stock worth $174,000 after purchasing an additional 50 shares during the period. Fulton Breakefield Broenniman LLC increased its holdings in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer’s stock worth $357,000 after purchasing an additional 50 shares during the period. Finally, American Financial Advisors LLC increased its holdings in Broadcom by 3.8% during the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $240,000 after purchasing an additional 52 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other 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 completion of the transaction, the director 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 is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares of the company’s stock, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,916 shares of company stock valued at $216,785,761 in the last three months. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Oppenheimer upped their price objective on Broadcom from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities upped their price objective on Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group increased their price objective on Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $292.08.

Broadcom Price Performance

NASDAQ AVGO opened at $280.94 on Wednesday. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 105.22, a P/E/G ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $283.36. The business’s fifty day moving average is $249.82 and its two-hundred day moving average is $219.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

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

Broadcom announced that its board has authorized a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

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.