Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 50.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,548 shares of the semiconductor manufacturer's stock after purchasing an additional 5,245 shares during the period. Mirador Capital Partners LP's holdings in Broadcom were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marest Capital LLC lifted its stake in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 46 shares in the last quarter. SlateStone Wealth LLC lifted its stake in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after buying an additional 47 shares in the last quarter. True Wealth Design LLC lifted its stake in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares in the last quarter. DT Investment Partners LLC lifted its stake in Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after buying an additional 50 shares in the last quarter. Finally, Bfsg LLC lifted its stake in Broadcom by 12.5% in the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after buying an additional 50 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 2.7%

AVGO traded up $6.64 during trading hours on Monday, reaching $248.71. 19,139,888 shares of the stock traded hands, compared to its average volume of 30,826,463. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. 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 company has a market cap of $1.17 trillion, a price-to-earnings ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.04. The firm's fifty day simple moving average is $195.38 and its two-hundred day simple moving average is $203.66.

Broadcom announced that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given 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 0.95%. Broadcom's payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $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. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 in the last ninety days. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AVGO shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Susquehanna raised their price objective on Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $238.77.

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.