BIP Alliance LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

BIP Alliance LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,025 shares of the semiconductor manufacturer’s stock, valued at approximately $469,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the fourth quarter valued at about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the fourth quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.3%

Shares of AVGO opened at $230.53 on Friday. The stock’s 50-day moving average price is $190.02 and its two-hundred day moving average price is $200.90. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The company has a market capitalization of $1.08 trillion, a PE ratio of 188.04, a PEG ratio of 2.29 and a beta of 1.04. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. 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 113.46%.

Broadcom announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVGO. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Barclays cut their target price on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $229.48.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the company’s 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 of the company’s stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 over the last ninety days. 2.00% of the stock is owned by company insiders.

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.