Baring Financial LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Baring Financial LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,271 shares of the semiconductor manufacturer's stock, valued at approximately $213,000.

Several other institutional investors also recently modified their holdings of AVGO. Tallon Kerry Patrick bought a new stake in Broadcom in the fourth quarter valued at about $357,000. Capital & Planning LLC grew its stake in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC raised its holdings in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after buying an additional 12,345 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Broadcom by 147.7% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 3,017 shares of the semiconductor manufacturer's stock worth $699,000 after buying an additional 1,799 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVGO. Susquehanna upped their price target on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research report on Thursday. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Citigroup dropped their target price 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. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Oppenheimer upped their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.77.

Broadcom Trading Down 1.0%

Shares of Broadcom stock traded down $2.47 on Friday, hitting $239.50. 27,045,094 shares of the company's stock traded hands, compared to its average volume of 31,042,717. The firm's 50-day moving average price is $195.38 and its two-hundred day moving average price is $203.23. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.13 trillion, a PE ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom Announces Dividend

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

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

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last ninety days. 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.