XY Planning Network Inc. Acquires New Stake in Broadcom Inc. (NASDAQ:AVGO)

XY Planning Network Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,305 shares of the semiconductor manufacturer's stock, valued at approximately $766,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. HWG Holdings LP boosted its holdings in shares of Broadcom by 80.3% in the 4th quarter. HWG Holdings LP now owns 19,325 shares of the semiconductor manufacturer's stock valued at $4,480,000 after purchasing an additional 8,605 shares during the last quarter. LifeWealth Investments LLC acquired a new position in Broadcom in the fourth quarter valued at $781,000. Capital A Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $44,000. LM Advisors LLC acquired a new stake in Broadcom during the fourth quarter worth about $3,310,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $1,997,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded up $6.93 during trading hours on Tuesday, reaching $235.65. 17,906,364 shares of the stock were exchanged, compared to its average volume of 31,055,312. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 192.21, a P/E/G ratio of 2.29 and a beta of 1.04. The firm has a 50 day simple moving average of $191.49 and a 200-day simple moving average of $201.86. 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 52 week low of $128.50 and a 52 week high of $251.88.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Citigroup cut their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target 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.