NBW Capital LLC Has $5.12 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

NBW Capital LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,564 shares of the semiconductor manufacturer’s stock after selling 7,124 shares during the period. NBW Capital LLC’s holdings in Broadcom were worth $5,117,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at $25,000. Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the 4th quarter worth $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter worth $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Bank of America lifted their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Evercore ISI reiterated an “outperform” rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Hsbc Global Res upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 24th. Finally, Cowen reiterated a “buy” rating on shares of Broadcom in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $294.92.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $303.76 on Friday. 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’s 50-day simple moving average is $271.57 and its 200-day simple moving average is $226.37. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $310.34. The firm has a market cap of $1.43 trillion, a P/E ratio of 113.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating 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 analyst estimates of $14.98 billion. During the same period in the previous year, the business earned $10.96 EPS. The firm’s revenue was up 20.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is 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.