Donaldson Capital Management LLC Has $93.22 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Donaldson Capital Management LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 556,764 shares of the semiconductor manufacturer’s stock after selling 25,989 shares during the period. Broadcom makes up about 3.5% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Donaldson Capital Management LLC’s holdings in Broadcom were worth $93,219,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SlateStone Wealth LLC boosted its position in Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC increased its position in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after acquiring an additional 48 shares during the last quarter. DT Investment Partners LLC raised its position in Broadcom by 0.9% in the fourth 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 period. Bfsg LLC lifted its stake in Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 50 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC boosted its stake in shares of Broadcom by 1.5% in the fourth 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 period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVGO. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Cowen reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday. Rosenblatt Securities raised their price target on Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday. Finally, Redburn Atlantic assumed coverage on Broadcom in a report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $272.71.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on 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 owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $244.63 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The firm has a market capitalization of $1.15 trillion, a PE ratio of 199.54, a P/E/G ratio of 2.29 and a beta of 1.11. The business has a 50-day moving average of $206.98 and a two-hundred day moving average of $207.63.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $10.96 EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, June 20th. Broadcom’s payout ratio is 88.39%.

Broadcom declared that its board has initiated a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board 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.