Warm Springs Advisors Inc. Invests $5.26 Million in Broadcom Inc. (NASDAQ:AVGO)

Warm Springs Advisors Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,673 shares of the semiconductor manufacturer's stock, valued at approximately $5,257,000. Broadcom accounts for about 4.9% of Warm Springs Advisors Inc.'s portfolio, making the stock its 6th biggest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Broadcom in the fourth quarter valued at approximately $16,893,010,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares during the period. GQG Partners LLC increased its stake in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares during the last quarter. Vanguard Group Inc. increased its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Broadcom by 27.4% in the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock valued at $6,236,011,000 after acquiring an additional 5,783,988 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now directly owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was 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 directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Mizuho cut their price target 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $232.23.

Broadcom Trading Up 0.7%

NASDAQ:AVGO traded up $1.58 during midday trading on Wednesday, reaching $237.23. 7,040,590 shares of the stock traded hands, compared to its average volume of 30,961,285. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a fifty day moving average of $192.39 and a 200 day moving average of $202.10. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 193.57, a PEG ratio of 2.29 and a beta of 1.04. 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 stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently declared 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 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is 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.