Woodward Diversified Capital LLC Acquires 260 Shares of Broadcom Inc. (NASDAQ:AVGO)

Woodward Diversified Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 6.2% in the 1st quarter, HoldingsChannel reports. The fund owned 4,475 shares of the semiconductor manufacturer’s stock after purchasing an additional 260 shares during the period. Woodward Diversified Capital LLC’s holdings in Broadcom were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at $30,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the 4th quarter valued at $32,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the 1st quarter worth $25,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Broadcom in the 1st quarter worth $26,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.0%

AVGO opened at $280.81 on Thursday. Broadcom Inc. has a one year low of $128.50 and a one year high of $283.59. The company has a fifty day moving average price of $251.34 and a 200-day moving average price of $219.63. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 105.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) 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 company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the business earned $10.96 earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.84%. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its board has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. UBS Group lifted their target price on Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Mizuho lifted their target price on Broadcom from $315.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday. 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. KeyCorp lifted their target price on Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Susquehanna lifted their target price on Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research 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 data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $292.08.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 789,784 shares of the company’s stock, valued at $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the business’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares of the company’s stock, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,224,641 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.