BLI Banque de Luxembourg Investments Takes $61.85 Million Position in Broadcom Inc. (NASDAQ:AVGO)

BLI Banque de Luxembourg Investments bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 262,890 shares of the semiconductor manufacturer's stock, valued at approximately $61,850,000. Broadcom makes up approximately 1.7% of BLI Banque de Luxembourg Investments' portfolio, making the stock its 16th largest position.

Several other institutional investors also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $244,000. Motive Wealth Advisors lifted its holdings in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after buying an additional 4,209 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred 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 owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom 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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock valued at $131,065,542 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 3.2 %

Shares of NASDAQ:AVGO opened at $203.64 on Friday. The company has a market cap of $957.50 billion, a price-to-earnings ratio of 166.10, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $127.51 and a fifty-two week high of $251.88. The firm's 50-day simple moving average is $182.21 and its 200-day simple moving average is $196.61. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom announced that its board has approved a stock 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 repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

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.

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