Autumn Glory Partners LLC Has $738,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Autumn Glory Partners LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the first quarter, HoldingsChannel.com reports. The fund owned 4,405 shares of the semiconductor manufacturer’s stock after selling 490 shares during the quarter. Autumn Glory Partners LLC’s holdings in Broadcom were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $32,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $250.35, for a total transaction of $200,280.00. Following the transaction, the director now owns 25,382 shares in the company, valued at $6,354,383.70. The trade was a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider now directly owns 789,784 shares of the company’s stock, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 849,134 shares of company stock worth $163,760,949. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a report on Sunday. Benchmark boosted their target price on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Susquehanna upped their price objective on shares of Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a research report on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Oppenheimer upped their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.09.

Broadcom Stock Up 0.8%

Shares of NASDAQ:AVGO opened at $251.26 on Thursday. 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 stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.77 and a beta of 1.11. The business’s 50 day moving average is $217.54 and its 200 day moving average is $211.02. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43.

Broadcom (NASDAQ:AVGO) last released its quarterly 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. During the same period in the previous year, the company earned $10.96 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, sell-side analysts forecast 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 stock 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 purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

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.