Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 50.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,548 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,245 shares during the quarter. Mirador Capital Partners LP’s holdings in Broadcom were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Tallon Kerry Patrick acquired a new position in Broadcom in the fourth quarter valued at $357,000. Capital & Planning LLC boosted its holdings in Broadcom by 15.3% in the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock valued at $969,000 after acquiring an additional 554 shares during the last quarter. LaFleur & Godfrey LLC boosted its holdings in Broadcom by 18.7% in the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock valued at $18,145,000 after acquiring an additional 12,345 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Broadcom during the fourth quarter worth about $71,312,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AVGO shares. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Mizuho boosted their price objective on Broadcom from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Susquehanna boosted their price objective on Broadcom from $250.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday. Oppenheimer boosted their price objective on Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday. They set a “buy” rating and a $301.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $238.77.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction that occurred on 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 directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 1.0%

Shares of Broadcom stock opened at $239.50 on Friday. 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 firm has a market cap of $1.13 trillion, a P/E ratio of 195.35, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The business has a 50-day moving average price of $195.38 and a 200 day moving average price of $203.43.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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

Broadcom 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.