Applied Finance Capital Management LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Applied Finance Capital Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,635 shares of the semiconductor manufacturer’s stock after purchasing an additional 275 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Broadcom were worth $9,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC grew its holdings in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA grew its stake in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares during the period. Bryant Woods Investment Advisors LLC raised its holdings in Broadcom by 3.5% in the 4th 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 last quarter. Marest Capital LLC lifted its stake in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC boosted its holdings in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’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 sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 697,976 shares of company stock valued at $127,336,102 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $154.14 on Tuesday. 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 fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50 day moving average price of $200.61 and a two-hundred day moving average price of $196.34. The firm has a market cap of $724.76 billion, a PE ratio of 125.73, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

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

Broadcom Announces Dividend

The business also recently declared 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 of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.53%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Susquehanna upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Mizuho decreased their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.