Lantz Financial LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lantz Financial LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,237 shares of the semiconductor manufacturer’s stock after buying an additional 673 shares during the quarter. Lantz Financial LLC’s holdings in Broadcom were worth $542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. KFA Private Wealth Group LLC raised its stake in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares in the last quarter. Marest Capital LLC raised its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares in the last quarter. SlateStone Wealth LLC raised its stake in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 48 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock valued at $1,251,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Mizuho upped their target price on shares of Broadcom from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.77.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of the firm’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 transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred 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 $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.0%

Broadcom stock opened at $239.50 on Friday. The firm has a 50 day simple moving average of $195.38 and a 200-day simple moving average of $203.23. 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 stock has a market capitalization of $1.13 trillion, a PE ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom Dividend Announcement

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

Broadcom announced that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.