Fort Washington Investment Advisors Inc. OH Sells 20,129 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fort Washington Investment Advisors Inc. OH decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 635,300 shares of the semiconductor manufacturer’s stock after selling 20,129 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Broadcom were worth $106,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. SlateStone Wealth LLC lifted its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC lifted its stake in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares during the last quarter. DT Investment Partners LLC boosted its holdings in shares of Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock worth $1,251,000 after purchasing an additional 50 shares in the last quarter. Bfsg LLC increased its position in shares of Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC increased its position in shares of Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.4%

Shares of NASDAQ AVGO opened at $252.91 on Thursday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50-day moving average of $209.12 and a 200 day moving average of $207.94. The stock has a market cap of $1.19 trillion, a P/E ratio of 206.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 28.00% and a net margin of 11.43%. The firm 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 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, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.93%. Broadcom’s payout ratio is currently 88.39%.

Insider Activity at Broadcom

In other 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 value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVGO. KeyCorp boosted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Oppenheimer upped their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Rosenblatt Securities increased their target price on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a report on Friday, June 6th. Bank of America boosted their price target on shares of Broadcom from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $272.71.

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.