McIlrath & Eck LLC Acquires 1,310 Shares of Broadcom Inc. (NASDAQ:AVGO)

McIlrath & Eck LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 325.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,712 shares of the semiconductor manufacturer's stock after acquiring an additional 1,310 shares during the quarter. McIlrath & Eck LLC's holdings in Broadcom were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its stake in shares of Broadcom by 3.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock valued at $3,086,000 after buying an additional 386 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Broadcom in the 4th quarter valued at about $357,000. Capital & Planning LLC boosted its stake 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 valued at $969,000 after buying an additional 554 shares during the period. Moss Adams Wealth Advisors LLC boosted its stake in shares of Broadcom by 3.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 15,774 shares of the semiconductor manufacturer's stock valued at $3,657,000 after buying an additional 554 shares during the period. Finally, Bowman & Co S.C. boosted its stake in shares of Broadcom by 0.5% in the 4th quarter. Bowman & Co S.C. now owns 27,315 shares of the semiconductor manufacturer's stock valued at $6,333,000 after buying an additional 140 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on 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. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded down $1.81 during trading on Friday, reaching $228.72. 15,375,203 shares of the stock were exchanged, compared to its average volume of 31,107,983. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The stock has a 50 day simple moving average of $190.82 and a 200-day simple moving average of $201.42. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

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

Broadcom Dividend Announcement

The business also recently announced 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 1.03%. Broadcom's payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Citigroup cut their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Finally, Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

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.