Seeds Investor LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,159 shares of the semiconductor manufacturer’s stock after purchasing an additional 203 shares during the period. Seeds Investor LLC’s holdings in Broadcom were worth $3,076,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank grew its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares in the last quarter. Madison Asset Management LLC increased its stake in shares of Broadcom by 2.5% during the 1st quarter. Madison Asset Management LLC now owns 2,548 shares of the semiconductor manufacturer’s stock worth $427,000 after purchasing an additional 63 shares during the last quarter. Finally, Principle Wealth Partners LLC increased its stake in shares of Broadcom by 18.5% during the 1st quarter. Principle Wealth Partners LLC now owns 3,485 shares of the semiconductor manufacturer’s stock worth $584,000 after purchasing an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom Trading Down 1.9%
Broadcom stock opened at $340.20 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $386.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a market capitalization of $1.61 trillion, a PE ratio of 86.79, a PEG ratio of 1.19 and a beta of 1.19. The business’s 50-day simple moving average is $348.15 and its 200-day simple moving average is $299.89.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.
Insider Buying and Selling
In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. 2.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
AVGO has been the subject of several analyst reports. UBS Group set a $415.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Broadcom in a report on Wednesday. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Mizuho set a $435.00 price objective on Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Arete Research raised Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $374.21.
Check Out Our Latest Stock Report on AVGO
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.
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