Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 351.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,286 shares of the semiconductor manufacturer's stock after purchasing an additional 8,786 shares during the quarter. Broadcom makes up about 0.4% of Iron Gate Global Advisors LLC's holdings, making the stock its 27th largest position. Iron Gate Global Advisors LLC's holdings in Broadcom were worth $2,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Norges Bank purchased a new stake in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Franklin Resources Inc. increased its holdings in shares of Broadcom by 1,114.6% in the 3rd quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer's stock valued at $3,849,270,000 after acquiring an additional 19,375,547 shares during the period. GQG Partners LLC raised its position in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the last quarter. Vanguard Group Inc. boosted its stake in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Finally, Principal Financial Group Inc. grew its position in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVGO. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley lifted their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $231.28.

Broadcom Stock Performance

AVGO stock traded down $3.62 during trading on Friday, hitting $170.99. 22,452,143 shares of the company's stock traded hands, compared to its average volume of 31,339,754. 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 $120.05 and a 52 week high of $251.88. The stock has a fifty day moving average price of $189.84 and a two-hundred day moving average price of $196.07. The stock has a market capitalization of $803.99 billion, a price-to-earnings ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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

Insider Transactions at Broadcom

In other 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 directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by company insiders.

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.