Vivaldi Capital Management LP Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vivaldi Capital Management LP boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,592 shares of the semiconductor manufacturer’s stock after purchasing an additional 939 shares during the quarter. Vivaldi Capital Management LP’s holdings in Broadcom were worth $1,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $244,000. Motive Wealth Advisors increased its holdings in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Nebula Research & Development LLC increased its holdings in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Finally, TTP Investments Inc. increased its holdings in shares of Broadcom by 71.7% in the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock valued at $14,061,000 after purchasing an additional 25,330 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the business’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 completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.7%

Shares of NASDAQ AVGO opened at $228.61 on Monday. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50-day moving average of $187.08 and a two-hundred day moving average of $199.61. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88.

Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVGO shares. Bank of America cut their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, Benchmark reissued a “buy” rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

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.