Lmcg Investments LLC Has $6.27 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lmcg Investments LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,449 shares of the semiconductor manufacturer's stock after selling 6,657 shares during the period. Lmcg Investments LLC's holdings in Broadcom were worth $6,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. SlateStone Wealth LLC boosted its position in Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC boosted its position in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. DT Investment Partners LLC boosted its position in Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after purchasing an additional 50 shares during the last quarter. Bfsg LLC boosted its position in Broadcom by 12.5% during the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after purchasing an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC boosted its position in Broadcom by 1.5% during the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after purchasing an additional 50 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last 90 days. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVGO. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Oppenheimer raised their price objective on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Mizuho raised their price objective on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, May 28th. Three investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $246.00.

Broadcom Price Performance

AVGO stock traded down $1.15 during midday trading on Thursday, reaching $259.93. 41,745,758 shares of the stock were exchanged, compared to its average volume of 30,914,786. The stock has a market capitalization of $1.22 trillion, a PE ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. 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 fifty day moving average price of $200.31 and a 200 day moving average price of $205.00.

Broadcom announced that its board has approved a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom's dividend payout ratio is currently 113.46%.

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.