DSG Capital Advisors LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

DSG Capital Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 106,820 shares of the semiconductor manufacturer's stock, valued at approximately $24,765,000. Broadcom accounts for 4.5% of DSG Capital Advisors LLC's portfolio, making the stock its 4th largest holding.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. GQG Partners LLC lifted its stake in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the period. Vanguard Group Inc. lifted its stake in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Broadcom by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after buying an additional 5,783,988 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 1.0%

AVGO stock traded down $2.47 during midday trading on Friday, reaching $239.50. 27,045,094 shares of the company were exchanged, compared to its average volume of 31,042,485. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 195.35, a price-to-earnings-growth 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 Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The stock's 50-day simple moving average is $195.38 and its 200 day simple moving average is $203.23.

Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 0.99%. Broadcom's dividend payout ratio is presently 113.46%.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of Broadcom 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Mizuho increased their target price on shares of Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Susquehanna increased their price target on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a report on Thursday. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.77.

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.