Generation Capital Management LLC Acquires Shares of 12,990 Broadcom Inc. (NASDAQ:AVGO)

Generation Capital Management LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,990 shares of the semiconductor manufacturer's stock, valued at approximately $3,012,000. Broadcom accounts for 2.6% of Generation Capital Management LLC's investment portfolio, making the stock its 13th biggest position.

A number of other institutional investors also recently modified their holdings of AVGO. Cramer Rosenthal Mcglynn LLC increased its stake in Broadcom by 79.0% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 76,881 shares of the semiconductor manufacturer's stock valued at $17,824,000 after buying an additional 33,930 shares during the last quarter. Capital International Sarl boosted its position in Broadcom by 2.0% during the fourth quarter. Capital International Sarl now owns 1,083,262 shares of the semiconductor manufacturer's stock valued at $251,143,000 after purchasing an additional 21,318 shares during the last quarter. Arvest Bank Trust Division grew its stake in Broadcom by 17.6% in the fourth quarter. Arvest Bank Trust Division now owns 1,891 shares of the semiconductor manufacturer's stock valued at $438,000 after purchasing an additional 283 shares in the last quarter. Fairfield Bush & CO. boosted its holdings in shares of Broadcom by 0.3% in the 4th quarter. Fairfield Bush & CO. now owns 28,425 shares of the semiconductor manufacturer's stock valued at $6,590,000 after buying an additional 84 shares during the last quarter. Finally, Tobias Financial Advisors Inc. grew its stake in shares of Broadcom by 25.7% in the fourth quarter. Tobias Financial Advisors Inc. now owns 1,735 shares of the semiconductor manufacturer's stock valued at $402,000 after buying an additional 355 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America cut their target price 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. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average price target of $229.48.

Insider Buying and Selling

In related news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, 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. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last three months. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $3.37 during midday trading on Tuesday, reaching $169.58. 6,499,652 shares of the company were exchanged, compared to its average volume of 31,211,359. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $797.35 billion, a P/E ratio of 138.41, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a one year low of $120.05 and a one year high of $251.88. The stock's 50-day moving average price is $188.43 and its 200-day moving average price is $196.17.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.39%. Broadcom's dividend payout ratio is 113.46%.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

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.