Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Hudson Capital Management LLC

Hudson Capital Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,333 shares of the semiconductor manufacturer’s stock after selling 339 shares during the quarter. Broadcom comprises about 1.4% of Hudson Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Hudson Capital Management LLC’s holdings in Broadcom were worth $4,744,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. SlateStone Wealth LLC grew its holdings in shares of Broadcom by 0.3% during the 4th 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 in the last quarter. True Wealth Design LLC lifted its stake 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 purchasing an additional 48 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock valued at $1,251,000 after purchasing an additional 50 shares during the last quarter. Bfsg LLC lifted its stake in shares of Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC lifted its stake in shares of Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Susquehanna lifted their price objective on shares of Broadcom from $250.00 to $280.00 and gave the company a “positive” rating in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.00.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s 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 sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were 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 directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $259.93 on Friday. The firm’s 50-day moving average is $202.16 and its 200-day moving average is $205.65. Broadcom Inc. has a 52-week low of $128.50 and a 52-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. The company has a market cap of $1.22 trillion, a price-to-earnings ratio of 212.02, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the firm posted $10.96 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.91%. Broadcom’s payout ratio is 113.46%.

Broadcom announced that its board has authorized a share buyback 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 buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.