Breed s Hill Capital LLC Has $5.94 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Breed s Hill Capital LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,639 shares of the semiconductor manufacturer's stock after buying an additional 7,608 shares during the period. Broadcom makes up about 3.1% of Breed s Hill Capital LLC's investment portfolio, making the stock its 8th largest holding. Breed s Hill Capital LLC's holdings in Broadcom were worth $5,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC lifted its position in Broadcom by 3.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock valued at $3,086,000 after acquiring an additional 386 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in Broadcom during the 4th quarter valued at $357,000. Capital & Planning LLC boosted its stake in Broadcom by 15.3% during 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 last quarter. LaFleur & Godfrey LLC boosted its stake in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after purchasing an additional 12,345 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in Broadcom by 3.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 25,523 shares of the semiconductor manufacturer's stock valued at $5,917,000 after purchasing an additional 733 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $230.53 on Friday. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The stock's fifty day moving average is $190.02 and its 200 day moving average is $200.90. The stock has a market cap of $1.08 trillion, a P/E ratio of 188.04, 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 Dividend Announcement

The business also recently announced 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 was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.02%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Benchmark reiterated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was 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 of the company's stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.