Strategic Global Advisors LLC Has $11.25 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Strategic Global Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,508 shares of the semiconductor manufacturer's stock after selling 7,168 shares during the period. Broadcom accounts for 2.1% of Strategic Global Advisors LLC's portfolio, making the stock its 11th largest holding. Strategic Global Advisors LLC's holdings in Broadcom were worth $11,246,000 at the end of the most recent quarter.

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

Broadcom Stock Performance

Broadcom stock opened at $228.61 on Friday. The stock has a 50-day simple moving average of $187.08 and a 200 day simple moving average of $199.41. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is presently 113.46%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVGO. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Citigroup decreased their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Bank of America dropped their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

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.

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