Lighthouse Investment Partners LLC Buys 3,529 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lighthouse Investment Partners LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 88.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,529 shares of the semiconductor manufacturer’s stock after acquiring 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 quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $232.42 on Wednesday. The firm has a market cap of $1.09 trillion, a PE ratio of 189.58, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The firm’s 50 day simple moving average is $184.61 and its 200-day simple moving average is $198.26. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at $83,872,080. This trade represents a 5.09% 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 Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by company insiders.

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.