Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Shufro Rose & Co. LLC

Shufro Rose & Co. LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 824.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,870 shares of the semiconductor manufacturer's stock after buying an additional 4,343 shares during the period. Shufro Rose & Co. LLC's holdings in Broadcom were worth $1,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Barclays cut their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Performance

AVGO stock traded up $6.93 on Tuesday, hitting $235.65. The company's stock had a trading volume of 17,906,364 shares, compared to its average volume of 31,055,312. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The firm has a 50 day moving average of $191.49 and a two-hundred day moving average of $201.86.

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 given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom's payout ratio is 113.46%.

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

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated 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 transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the 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 of the company's stock, valued at approximately $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 a total of 720,576 shares of company stock worth $131,249,694 in the last quarter. Company insiders own 2.00% of the company's stock.

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.