Broadcom Inc. (NASDAQ:AVGO) is Deltec Asset Management LLC’s 5th Largest Position

Deltec Asset Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,539 shares of the semiconductor manufacturer’s stock after selling 2,500 shares during the quarter. Broadcom makes up approximately 3.9% of Deltec Asset Management LLC’s holdings, making the stock its 5th largest holding. Deltec Asset Management LLC’s holdings in Broadcom were worth $18,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $249.99 on Friday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 93.63, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The business has a 50 day simple moving average of $220.48 and a 200-day simple moving average of $212.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the previous year, the firm posted $10.96 EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. Broadcom’s dividend payout ratio is currently 88.39%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $250.35, for a total value of $200,280.00. Following the transaction, the director now owns 25,382 shares of the company’s stock, valued at $6,354,383.70. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 849,134 shares of company stock worth $163,760,949 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Oppenheimer raised their target price on Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Mizuho boosted their price target on Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Finally, Citigroup boosted their price target on Broadcom from $276.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $276.09.

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.