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

LM Advisors LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,277 shares of the semiconductor manufacturer's stock, valued at approximately $3,310,000.

Several other institutional investors have also added to or reduced their stakes in the business. Tallon Kerry Patrick bought a new stake in Broadcom during the 4th quarter valued at about $357,000. Capital & Planning LLC lifted its position in Broadcom by 15.3% during the fourth 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 period. LaFleur & Godfrey LLC increased its holdings in shares of 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 in the last quarter. First PREMIER Bank boosted its stake in shares of Broadcom by 117.9% during 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 in the last quarter. Finally, D.B. Root & Company LLC raised its stake in shares of Broadcom by 3.6% during the 4th quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock worth $1,281,000 after buying an additional 191 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Truist Financial boosted their price target 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. Benchmark reissued a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three research 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, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $234.15.

Broadcom Stock Up 1.6%

Shares of AVGO stock traded up $3.78 on Wednesday, hitting $239.43. The stock had a trading volume of 20,141,551 shares, compared to its average volume of 31,012,200. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 195.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12-month low of $128.50 and a 12-month 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 business has a 50 day moving average of $192.39 and a 200 day moving average of $202.10.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. Broadcom's dividend payout ratio (DPR) is 113.46%.

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

Insider Activity

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly 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. 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 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.