Wincap Financial LLC Sells 517 Shares of Broadcom Inc. (NASDAQ:AVGO)

by · The Cerbat Gem

Wincap Financial LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the semiconductor manufacturer’s stock after selling 517 shares during the quarter. Wincap Financial LLC’s holdings in Broadcom were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. True Wealth Design LLC boosted its holdings in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after acquiring an additional 48 shares during the last quarter. Mizuho Bank Ltd. boosted its holdings in Broadcom by 7.1% during the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer’s stock worth $174,000 after purchasing an additional 50 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its position in Broadcom by 2.4% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer’s stock worth $357,000 after purchasing an additional 50 shares in the last quarter. American Financial Advisors LLC increased its stake in Broadcom by 3.8% in the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $240,000 after buying an additional 52 shares during the last quarter. Finally, First Bank & Trust lifted its position in shares of Broadcom by 1.9% during the 1st quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer’s stock worth $493,000 after buying an additional 55 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVGO. The Goldman Sachs Group began coverage on Broadcom in a report on Thursday, July 10th. They issued a “buy” rating and a $315.00 target price for the company. UBS Group upped their price objective on Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Morgan Stanley lifted their target price on Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $292.08.

Get Our Latest Research Report on AVGO

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 415,956 shares of the company’s stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer owned 361,937 shares of the company’s stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock worth $217,224,641. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.5%

Shares of NASDAQ AVGO opened at $290.18 on Monday. 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 business has a 50-day moving average of $260.05 and a 200-day moving average of $222.08. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 108.68, a PEG ratio of 2.06 and a beta of 1.12. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $292.59.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the previous year, the company earned $10.96 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Broadcom declared that its Board of Directors has approved a share repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Broadcom Profile

(Free Report)

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.

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