Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 88.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,529 shares of the semiconductor manufacturer's stock after purchasing an additional 3,529 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Broadcom were worth $1,746,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC lifted its stake in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA raised its holdings in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after acquiring an additional 45 shares during the period. Bryant Woods Investment Advisors LLC raised its holdings in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC raised its holdings in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after acquiring an additional 46 shares during the period. Finally, Defined Wealth Management LLC raised its holdings in Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after acquiring an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVGO shares. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Bank of America decreased their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp boosted their target price on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Down 1.7%

Broadcom stock traded down $4.03 during mid-day trading on Friday, reaching $228.61. 22,996,350 shares of the company were exchanged, compared to its average volume of 31,191,905. The business has a fifty day moving average of $186.31 and a 200 day moving average of $198.91. 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 firm has a market cap of $1.07 trillion, a P/E ratio of 186.47, 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

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

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction 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 sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 38,798,721 shares in the company, valued at $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 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

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.