2,258 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Victrix Investment Advisors

Victrix Investment Advisors purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,258 shares of the semiconductor manufacturer's stock, valued at approximately $524,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom by 3.8% during 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 acquiring an additional 18,845 shares in the last quarter. Wolff Financial Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $244,000. Motive Wealth Advisors increased its position in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Nebula Research & Development LLC raised its stake 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 purchasing an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. raised its stake in shares of Broadcom by 71.7% during the 4th quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after purchasing an additional 25,330 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company'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 transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $228.61 on Monday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The company has a 50 day moving average of $187.08 and a 200-day moving average of $199.61. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. 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 1.03%. Broadcom's dividend payout ratio is 113.46%.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. Citigroup decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Benchmark reiterated a "buy" rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America dropped their price target 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. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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