Stenger Family Office LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Stenger Family Office LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,546 shares of the semiconductor manufacturer's stock, valued at approximately $822,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $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 sold a total of 719,776 shares of company stock valued at $131,065,542 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $231.28.

Broadcom Price Performance

Shares of AVGO traded down $3.62 during trading hours on Friday, reaching $170.99. 22,452,143 shares of the company's stock traded hands, compared to its average volume of 31,339,754. Broadcom Inc. has a 12 month low of $120.05 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $803.99 billion, a PE ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The firm's 50 day simple moving average is $189.84 and its 200-day simple moving average is $196.24.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.38%. Broadcom's payout ratio 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.