McIlrath & Eck LLC Has $397,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

McIlrath & Eck LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 325.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,712 shares of the semiconductor manufacturer's stock after buying an additional 1,310 shares during the period. McIlrath & Eck LLC's holdings in Broadcom were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after purchasing an additional 18,845 shares during the period. Wolff Financial Management LLC acquired a new position in Broadcom during the fourth quarter worth $244,000. Motive Wealth Advisors lifted its stake in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after buying an additional 4,209 shares in the last quarter. Nebula Research & Development LLC lifted its stake in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. grew its holdings in shares of Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock valued at $14,061,000 after buying an additional 25,330 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVGO. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Mizuho lowered their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $229.48.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom 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 transaction, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, 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 90 days, insiders have sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.5%

AVGO opened at $231.68 on Wednesday. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 188.97, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The business's fifty day moving average is $188.62 and its two-hundred day moving average is $200.27. 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 business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom declared that its board has approved a stock 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is 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.

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