von Borstel & Associates Inc. Sells 70 Shares of Broadcom Inc. (NASDAQ:AVGO)

von Borstel & Associates Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.3% in the 1st quarter, HoldingsChannel reports. The fund owned 1,250 shares of the semiconductor manufacturer’s stock after selling 70 shares during the period. von Borstel & Associates Inc.’s holdings in Broadcom were worth $209,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter worth $25,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the first quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter worth $30,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 117,758 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company’s stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Friday, June 6th. Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price objective on the stock. Morgan Stanley boosted their price objective on Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Oppenheimer upped their price target on Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Finally, UBS Group upped their price target on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Buy” and an average price target of $281.46.

Broadcom Stock Performance

NASDAQ:AVGO opened at $274.87 on Friday. 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 Inc. has a 52-week low of $128.50 and a 52-week high of $277.71. The firm has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. The business’s fifty day moving average is $238.77 and its 200 day moving average is $217.22.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company posted $10.96 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding 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 often an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom’s payout ratio is 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.