Helium Advisors LLC Acquires Shares of 1,157 Broadcom Inc. (NASDAQ:AVGO)

Helium Advisors LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,157 shares of the semiconductor manufacturer's stock, valued at approximately $268,000.

A number of other hedge funds have also recently modified their holdings of the company. BIP Alliance LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $469,000. Breakthru Advisory Services LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $809,000. Sunbelt Securities Inc. increased its position in shares of Broadcom by 0.3% in the fourth quarter. Sunbelt Securities Inc. now owns 73,016 shares of the semiconductor manufacturer's stock valued at $17,201,000 after acquiring an additional 185 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $116,000. Finally, Breed s Hill Capital LLC increased its position in shares of Broadcom by 42.2% in the fourth quarter. Breed s Hill Capital LLC now owns 25,639 shares of the semiconductor manufacturer's stock valued at $5,944,000 after acquiring an additional 7,608 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVGO shares. Citigroup decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Bank of America reduced 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. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.3%

Shares of NASDAQ AVGO opened at $230.53 on Friday. The firm's 50 day moving average price is $190.02 and its 200-day moving average price is $200.90. The company has a market cap of $1.08 trillion, a PE ratio of 188.04, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has authorized a share buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

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.