Armis Advisers LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,456 shares of the semiconductor manufacturer's stock, valued at approximately $337,000.
A number of other large investors have also made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.
Insider Activity
In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated 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 directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated 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 in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.
Broadcom Trading Up 0.8%
Broadcom stock traded up $1.84 during trading hours on Thursday, hitting $241.27. The company had a trading volume of 11,814,843 shares, compared to its average volume of 30,970,539. The firm has a market cap of $1.13 trillion, a P/E ratio of 197.20, a P/E/G 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 company has a 50-day moving average price of $193.34 and a two-hundred day moving average price of $202.36.
Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are 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 dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom's dividend payout ratio is presently 113.46%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on AVGO. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup decreased their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.15.
View Our Latest Analysis on Broadcom
About Broadcom
(
Free Report)
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.
See Also
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
