Retireful LLC Sells 969 Shares of Broadcom Inc. (NASDAQ:AVGO)

Retireful LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,298 shares of the semiconductor manufacturer’s stock after selling 969 shares during the period. Retireful LLC’s holdings in Broadcom were worth $896,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arthur M. Cohen & Associates LLC grew its stake in Broadcom by 15.3% during the first quarter. Arthur M. Cohen & Associates LLC now owns 4,751 shares of the semiconductor manufacturer’s stock worth $795,000 after buying an additional 631 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Broadcom by 27.8% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,681 shares of the semiconductor manufacturer’s stock worth $5,639,000 after acquiring an additional 7,317 shares during the last quarter. Boltwood Capital Management increased its holdings in Broadcom by 35.9% during the 1st quarter. Boltwood Capital Management now owns 2,413 shares of the semiconductor manufacturer’s stock valued at $404,000 after purchasing an additional 638 shares in the last quarter. Lake Street Private Wealth LLC raised its position in Broadcom by 3.8% in the 1st quarter. Lake Street Private Wealth LLC now owns 21,802 shares of the semiconductor manufacturer’s stock valued at $3,650,000 after purchasing an additional 806 shares during the last quarter. Finally, ACT Advisors LLC. raised its position in Broadcom by 14.4% in the 1st quarter. ACT Advisors LLC. now owns 1,947 shares of the semiconductor manufacturer’s stock valued at $326,000 after purchasing an additional 245 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVGO shares. Redburn Atlantic began coverage on Broadcom in a research note on Wednesday, May 28th. They issued a “buy” rating and a $301.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Oppenheimer increased their price target on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Citigroup upped their price objective on Broadcom from $210.00 to $276.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America dropped their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

Broadcom Trading Up 1.6%

NASDAQ:AVGO opened at $261.08 on Thursday. The business’s 50-day simple moving average is $200.31 and its 200-day simple moving average is $205.00. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.23 trillion, a PE ratio of 212.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom announced that its Board of Directors has approved a share buyback program 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 programs 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.