Principal Street Partners LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Principal Street Partners LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 47.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,321 shares of the semiconductor manufacturer's stock after buying an additional 4,589 shares during the quarter. Principal Street Partners LLC's holdings in Broadcom were worth $3,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup lowered their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $255.00 target price on shares of Broadcom 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Performance

Shares of AVGO stock traded up $0.80 during trading hours on Thursday, hitting $230.53. The stock had a trading volume of 14,308,681 shares, compared to its average volume of 31,113,077. The firm has a market capitalization of $1.08 trillion, a PE ratio of 188.04, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The stock's 50 day moving average is $189.30 and its 200 day moving average is $200.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its board has initiated a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the company'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 sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 over the last 90 days. 2.00% of the stock is currently owned by 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.