Warren Street Wealth Advisors LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Warren Street Wealth Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,012 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,051 shares during the quarter. Broadcom accounts for 0.5% of Warren Street Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Warren Street Wealth Advisors LLC’s holdings in Broadcom were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Norges Bank purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $16,893,010,000. GAMMA Investing LLC boosted its stake in shares of Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock valued at $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after buying an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $261.08 on Thursday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The business has a 50-day moving average of $200.31 and a 200-day moving average of $205.00. 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 company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 212.95, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom declared that its board has approved a share 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 buy 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.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The shares were 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 directly owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $246.00.

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.