Ted Buchan & Co Buys 836 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ted Buchan & Co raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,228 shares of the semiconductor manufacturer’s stock after purchasing an additional 836 shares during the period. Broadcom accounts for approximately 1.3% of Ted Buchan & Co’s holdings, making the stock its 22nd biggest position. Ted Buchan & Co’s holdings in Broadcom were worth $2,835,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hemenway Trust Co LLC lifted its position in Broadcom by 37.3% during the fourth quarter. Hemenway Trust Co LLC now owns 2,320 shares of the semiconductor manufacturer’s stock valued at $538,000 after purchasing an additional 630 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Broadcom by 1.5% during the 4th quarter. Wedbush Securities Inc. now owns 57,059 shares of the semiconductor manufacturer’s stock valued at $13,229,000 after buying an additional 828 shares in the last quarter. Perennial Investment Advisors LLC lifted its holdings in shares of Broadcom by 8.6% in the 4th quarter. Perennial Investment Advisors LLC now owns 17,975 shares of the semiconductor manufacturer’s stock valued at $4,167,000 after acquiring an additional 1,429 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in Broadcom by 5.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 227,074 shares of the semiconductor manufacturer’s stock worth $52,645,000 after acquiring an additional 12,302 shares in the last quarter. Finally, Katamaran Capital LLP bought a new stake in Broadcom during the fourth quarter worth approximately $3,814,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 745,976 shares of company stock valued at $138,632,902. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVGO. Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. 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. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Three equities research 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, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Down 5.0 %

Shares of NASDAQ:AVGO opened at $146.29 on Friday. The company has a market capitalization of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The business’s fifty day simple moving average is $201.57 and its 200-day simple moving average is $195.95.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued 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 yield of 1.61%. Broadcom’s dividend payout ratio is presently 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.