White Knight Strategic Wealth Advisors LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

White Knight Strategic Wealth Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 100.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,640 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,820 shares during the quarter. Broadcom comprises 0.7% of White Knight Strategic Wealth Advisors LLC’s portfolio, making the stock its 28th largest holding. White Knight Strategic Wealth Advisors LLC’s holdings in Broadcom were worth $1,771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $37,000. Principal Street Partners LLC increased its stake in shares of Broadcom by 47.2% in the 4th quarter. Principal Street Partners LLC now owns 14,321 shares of the semiconductor manufacturer’s stock worth $3,320,000 after acquiring an additional 4,589 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its position in Broadcom by 9.0% during the 4th quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 37,356 shares of the semiconductor manufacturer’s stock valued at $8,661,000 after acquiring an additional 3,090 shares during the period. Delta Investment Management LLC boosted its stake in Broadcom by 6.8% during the fourth quarter. Delta Investment Management LLC now owns 5,320 shares of the semiconductor manufacturer’s stock worth $1,233,000 after acquiring an additional 339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer’s stock worth $7,975,616,000 after purchasing an additional 581,704 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Bank of America lowered their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Trading Up 0.9%

Shares of Broadcom stock opened at $230.63 on Tuesday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The company’s fifty day simple moving average is $187.81 and its 200-day simple moving average is $200.05. 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 stock has a market capitalization of $1.08 trillion, a PE ratio of 188.12, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid 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 dividend yield of 1.02%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the sale, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the firm’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 transaction, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

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.