Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Sienna Gestion

Sienna Gestion lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 139,108 shares of the semiconductor manufacturer’s stock after selling 14,147 shares during the quarter. Broadcom comprises approximately 1.9% of Sienna Gestion’s portfolio, making the stock its 5th largest holding. Sienna Gestion’s holdings in Broadcom were worth $22,640,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Ted Buchan & Co grew its stake in Broadcom by 3.2% during the first quarter. Ted Buchan & Co now owns 12,621 shares of the semiconductor manufacturer’s stock worth $2,113,000 after buying an additional 393 shares during the last quarter. American Money Management LLC grew its stake in Broadcom by 23.8% during the first quarter. American Money Management LLC now owns 2,538 shares of the semiconductor manufacturer’s stock worth $425,000 after buying an additional 488 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in Broadcom by 7.2% during the first quarter. E Fund Management Co. Ltd. now owns 225,309 shares of the semiconductor manufacturer’s stock worth $37,723,000 after buying an additional 15,194 shares during the last quarter. Financial Network Wealth Advisors LLC grew its stake in Broadcom by 48.2% during the first quarter. Financial Network Wealth Advisors LLC now owns 329 shares of the semiconductor manufacturer’s stock worth $55,000 after buying an additional 107 shares during the last quarter. Finally, NFP Retirement Inc. grew its stake in Broadcom by 17.5% during the first quarter. NFP Retirement Inc. now owns 2,334 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 347 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 1.2%

AVGO opened at $309.09 on Thursday. The firm’s fifty day moving average is $276.06 and its two-hundred day moving average is $228.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market cap of $1.45 trillion, a PE ratio of 115.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $10.96 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction on 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 owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,716 shares of company stock valued at $217,040,489 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Cowen reissued a “buy” rating on shares of Broadcom in a research note on Friday, June 6th. UBS Group increased their price target on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Susquehanna increased their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research note on Friday, June 6th. Finally, HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $294.92.

Broadcom 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.