Vise Technologies Inc. Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Vise Technologies Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,805 shares of the semiconductor manufacturer's stock after acquiring an additional 17,877 shares during the period. Broadcom comprises 1.2% of Vise Technologies Inc.'s portfolio, making the stock its 11th largest holding. Vise Technologies Inc.'s holdings in Broadcom were worth $14,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Planning Group LLC boosted its holdings in shares of Broadcom by 4.9% in the fourth quarter. Retirement Planning Group LLC now owns 2,240 shares of the semiconductor manufacturer's stock valued at $519,000 after acquiring an additional 104 shares in the last quarter. Blue Fin Capital Inc. boosted its holdings in shares of Broadcom by 22.8% in the fourth quarter. Blue Fin Capital Inc. now owns 3,273 shares of the semiconductor manufacturer's stock valued at $759,000 after acquiring an additional 608 shares in the last quarter. Headinvest LLC boosted its holdings in shares of Broadcom by 7.9% in the fourth quarter. Headinvest LLC now owns 3,422 shares of the semiconductor manufacturer's stock valued at $793,000 after acquiring an additional 252 shares in the last quarter. City National Bank of Florida MSD purchased a new stake in shares of Broadcom in the fourth quarter valued at about $292,000. Finally, JT Stratford LLC boosted its holdings in shares of Broadcom by 6.6% in the fourth quarter. JT Stratford LLC now owns 7,505 shares of the semiconductor manufacturer's stock valued at $1,740,000 after acquiring an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The stock was 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 approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Bank of America reduced their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp raised their price objective 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. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Performance

Shares of AVGO opened at $230.53 on Friday. 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 $1.08 trillion, a P/E ratio of 188.04, a PEG ratio of 2.29 and a beta of 1.04. The company has a 50-day moving average of $190.02 and a two-hundred day moving average of $200.90. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom announced that its board has initiated a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

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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