RDA Financial Network Has $15.12 Million Stock Position in Broadcom Inc. $AVGO

RDA Financial Network lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,025 shares of the semiconductor manufacturer’s stock after selling 1,277 shares during the quarter. Broadcom comprises 3.3% of RDA Financial Network’s investment portfolio, making the stock its 3rd largest position. RDA Financial Network’s holdings in Broadcom were worth $15,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC grew its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the last quarter. SWAN Capital LLC increased its position in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Networth Advisors LLC raised its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new position in Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.8%

NASDAQ AVGO opened at $392.23 on Tuesday. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00. The stock has a market cap of $1.87 trillion, a P/E ratio of 65.37, a P/E/G ratio of 0.74 and a beta of 1.45. The stock’s fifty day moving average price is $393.64 and its 200-day moving average price is $368.48. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Activity

In other news, Director Harry L. You acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AVGO has been the subject of several research analyst reports. Evercore restated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reissued a “buy” rating and set a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.