Coldstream Capital Management Inc. Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Coldstream Capital Management Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,664 shares of the semiconductor manufacturer's stock after acquiring an additional 4,953 shares during the period. Coldstream Capital Management Inc.'s holdings in Broadcom were worth $20,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Howard Capital Management Group LLC raised its position in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after buying an additional 2,908 shares in the last quarter. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 6,540,800 shares during the last quarter. Invst LLC boosted its holdings in shares of Broadcom by 928.6% in the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock worth $522,000 after purchasing an additional 2,730 shares during the period. McIlrath & Eck LLC increased its position in shares of Broadcom by 793.3% during the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after purchasing an additional 357 shares during the last quarter. Finally, Passumpsic Savings Bank lifted its position in Broadcom by 900.9% in the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock worth $2,743,000 after buying an additional 14,315 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Broadcom stock traded down $1.39 during trading hours on Wednesday, hitting $189.78. 6,416,557 shares of the stock traded hands, compared to its average volume of 31,162,722. The firm's 50 day moving average price is $182.92 and its 200-day moving average price is $196.21. The stock has a market capitalization of $892.34 billion, a price-to-earnings ratio of 154.80, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred 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 directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now 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. Insiders have sold 719,776 shares of company stock worth $131,065,542 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America reduced their price objective 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Benchmark reissued a "buy" rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

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.