14,277 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by LM Advisors LLC

LM Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,277 shares of the semiconductor manufacturer's stock, valued at approximately $3,310,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Tallon Kerry Patrick bought a new stake in shares of Broadcom in the 4th quarter worth approximately $357,000. Capital & Planning LLC lifted its holdings in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 554 shares during the last quarter. LaFleur & Godfrey LLC lifted its holdings in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after acquiring an additional 12,345 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Broadcom by 117.9% in the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer's stock worth $197,000 after acquiring an additional 460 shares during the last quarter. Finally, D.B. Root & Company LLC lifted its holdings in shares of Broadcom by 3.6% in the 4th quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock worth $1,281,000 after acquiring an additional 191 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AVGO shares. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America cut their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $229.48.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the business'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 completion of the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO traded up $6.93 during mid-day trading on Tuesday, hitting $235.65. 17,906,364 shares of the company traded hands, compared to its average volume of 31,055,312. Broadcom Inc. has a 1 year low of $128.50 and a 1 year 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. The stock has a 50-day moving average price of $191.49 and a two-hundred day moving average price of $201.86. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.21, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

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

About Broadcom

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.