Note Advisors LLC Purchases New Position in Broadcom Inc. (NASDAQ:AVGO)

Note Advisors LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,450 shares of the semiconductor manufacturer’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 0.5%

NASDAQ AVGO opened at $231.68 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 188.97, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The stock’s 50-day simple moving average is $188.62 and its two-hundred day simple moving average is $200.27.

Broadcom announced that its board has initiated a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The business 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 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now 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 ownership of the stock. The transaction 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 company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom 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.