Kintegral Advisory LLC Has $4.55 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kintegral Advisory LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,173 shares of the semiconductor manufacturer’s stock after selling 13,325 shares during the quarter. Kintegral Advisory LLC’s holdings in Broadcom were worth $4,550,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter valued at $30,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter valued at $32,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,716 shares of company stock valued at $221,433,761. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Barclays lifted their target price on Broadcom from $215.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Morgan Stanley lifted their target price on Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a “buy” rating in a report on Friday, June 6th. Finally, Rosenblatt Securities lifted their target price on Broadcom from $223.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $281.46.

Broadcom Stock Performance

Broadcom stock opened at $274.87 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $238.77 and its two-hundred day moving average price is $217.22. The stock has a market cap of $1.29 trillion, a PE ratio of 102.95, a P/E/G ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the previous year, the business posted $10.96 earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has approved a share buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

About Broadcom

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.