Seaview Investment Managers LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Seaview Investment Managers LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,383 shares of the semiconductor manufacturer's stock after buying an additional 2,816 shares during the quarter. Broadcom accounts for 3.8% of Seaview Investment Managers LLC's portfolio, making the stock its 3rd largest position. Seaview Investment Managers LLC's holdings in Broadcom were worth $13,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Howard Capital Management Group LLC lifted its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Invst LLC lifted its position in shares of Broadcom by 928.6% in the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock worth $522,000 after purchasing an additional 2,730 shares in the last quarter. McIlrath & Eck LLC grew its position in Broadcom by 793.3% during the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after purchasing an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank grew its position in Broadcom by 900.9% during the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock valued at $2,743,000 after purchasing an additional 14,315 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock traded up $10.75 during mid-day trading on Thursday, reaching $187.66. The company had a trading volume of 13,376,742 shares, compared to its average volume of 32,039,018. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $882.39 billion, a price-to-earnings ratio of 153.20, a PEG ratio of 2.29 and a beta of 1.05. The company has a 50 day moving average of $185.99 and a 200-day moving average of $195.85. Broadcom Inc. has a 52 week low of $122.33 and a 52 week high of $251.88.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Benchmark restated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 over the last three months. Company insiders own 2.00% of the company's stock.

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.