Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by McIlrath & Eck LLC

McIlrath & Eck LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 325.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,712 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,310 shares during the period. McIlrath & Eck LLC’s holdings in Broadcom were worth $397,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Wolff Financial Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $244,000. Motive Wealth Advisors boosted its position in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the period. Nebula Research & Development LLC boosted its position in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after acquiring an additional 14,399 shares during the period. Finally, TTP Investments Inc. lifted its holdings in Broadcom by 71.7% in the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock worth $14,061,000 after purchasing an additional 25,330 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America lowered their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. KeyCorp boosted 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. Finally, William Blair reaffirmed an “outperform” rating 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $231.68 on Wednesday. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The business’s 50 day moving average is $188.62 and its two-hundred day moving average is $200.27. The company has a market cap of $1.09 trillion, a P/E ratio of 188.97, a P/E/G ratio of 2.29 and a beta of 1.04. 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 announced that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom’s payout ratio is 113.46%.

Broadcom Company 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.