525 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Minot DeBlois Advisors LLC

Minot DeBlois Advisors LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 525 shares of the semiconductor manufacturer’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom during the 4th quarter worth about $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new stake in Broadcom during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the 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 of the company’s stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock worth $131,065,542. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 6.4%

AVGO opened at $221.58 on Tuesday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week 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. The company has a market capitalization of $1.04 trillion, a P/E ratio of 180.74, a P/E/G ratio of 2.29 and a beta of 1.04. The stock has a fifty day moving average of $183.55 and a 200-day moving average of $198.02.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Benchmark reiterated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.48.

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.