Richard P Slaughter Associates Inc Has $1.98 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Richard P Slaughter Associates Inc grew its position in Broadcom Inc. (NASDAQ:AVGO) by 4.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,823 shares of the semiconductor manufacturer’s stock after buying an additional 458 shares during the period. Richard P Slaughter Associates Inc’s holdings in Broadcom were worth $1,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Broadcom in the 4th quarter valued at $16,893,010,000. GAMMA Investing LLC lifted its position in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 46.9% in the 4th 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 acquiring an additional 15,171,849 shares in the last quarter. GQG Partners LLC lifted its position in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after acquiring an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. KeyCorp boosted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price target on the stock. Mizuho boosted their price target on shares of Broadcom from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. Oppenheimer boosted their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.00.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.3%

Shares of AVGO opened at $256.85 on Wednesday. The firm’s 50-day simple moving average is $198.47 and its 200 day simple moving average is $204.62. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $258.98. The firm has a market cap of $1.21 trillion, a P/E ratio of 209.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are 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.