Banque Transatlantique SA Takes $6.63 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Banque Transatlantique SA purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,997 shares of the semiconductor manufacturer's stock, valued at approximately $6,632,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Banque de Luxembourg S.A. acquired a new stake in shares of Broadcom during the fourth quarter worth approximately $459,000. Bayesian Capital Management LP acquired a new position in shares of Broadcom during the fourth quarter valued at $6,409,000. Bearing Point Capital LLC bought a new position in Broadcom in the 4th quarter worth about $11,887,000. Benjamin Edwards Inc. boosted its position in Broadcom by 3.4% during the 4th quarter. Benjamin Edwards Inc. now owns 282,475 shares of the semiconductor manufacturer's stock worth $65,503,000 after acquiring an additional 9,161 shares during the period. Finally, BIP Wealth LLC grew its position in Broadcom by 7.1% in the 4th quarter. BIP Wealth LLC now owns 6,257 shares of the semiconductor manufacturer's stock valued at $1,451,000 after buying an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Bank of America reduced their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark reiterated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Down 0.3 %

Shares of Broadcom stock traded down $0.63 during trading on Tuesday, hitting $200.09. 16,207,992 shares of the stock traded hands, compared to its average volume of 31,147,095. The company has a fifty day moving average price of $181.97 and a two-hundred day moving average price of $196.86. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The stock has a market cap of $940.81 billion, a P/E ratio of 163.21, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its board has authorized a stock repurchase plan 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 plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,776 shares of company stock valued at $131,065,542. Insiders own 2.00% of the company's stock.

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.