Tableaux LLC Makes New $253,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Tableaux LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,090 shares of the semiconductor manufacturer's stock, valued at approximately $253,000.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Broadcom during the 4th quarter worth about $320,919,000. Silver Oak Wealth Advisors Services LLC acquired a new stake in Broadcom during the 4th quarter valued at $118,000. PKO Investment Management Joint Stock Co purchased a new position in shares of Broadcom during the 4th quarter valued at $10,896,000. Northstar Financial Companies Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at $223,000. Finally, Centaurus Financial Inc. boosted its holdings in Broadcom by 10.1% in the fourth quarter. Centaurus Financial Inc. now owns 91,545 shares of the semiconductor manufacturer's stock worth $21,224,000 after purchasing an additional 8,367 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $2.54 on Thursday, hitting $241.97. 20,731,794 shares of the company traded hands, compared to its average volume of 31,021,031. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 197.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The business has a 50-day simple moving average of $193.34 and a 200 day simple moving average of $202.36.

Broadcom announced that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire 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.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVGO shares. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KeyCorp increased their price target 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. Morgan Stanley increased their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho boosted their price objective on shares of Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $236.27.

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.