Fi3 FINANCIAL ADVISORS LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Fi3 FINANCIAL ADVISORS LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,453 shares of the semiconductor manufacturer’s stock after purchasing an additional 106 shares during the period. Broadcom accounts for 0.7% of Fi3 FINANCIAL ADVISORS LLC’s holdings, making the stock its 21st biggest position. Fi3 FINANCIAL ADVISORS LLC’s holdings in Broadcom were worth $1,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Virtu Financial LLC grew its position in shares of Broadcom by 81.4% during the 4th quarter. Virtu Financial LLC now owns 67,514 shares of the semiconductor manufacturer’s stock valued at $15,652,000 after acquiring an additional 30,299 shares during the period. Quantbot Technologies LP bought a new position in shares of Broadcom during the 4th quarter valued at approximately $5,499,000. Sciencast Management LP bought a new position in shares of Broadcom during the 4th quarter valued at approximately $441,000. ZEGA Investments LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $1,198,000. Finally, von Borstel & Associates Inc. boosted its holdings in Broadcom by 5.6% in the 4th quarter. von Borstel & Associates Inc. now owns 1,320 shares of the semiconductor manufacturer’s stock worth $306,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $191.66 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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’s 50-day moving average is $214.38 and its 200 day moving average is $194.79. The stock has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.