Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Capital International Inc. CA

Capital International Inc. CA boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,326,743 shares of the semiconductor manufacturer's stock after purchasing an additional 177,888 shares during the period. Broadcom makes up about 6.4% of Capital International Inc. CA's portfolio, making the stock its biggest position. Capital International Inc. CA's holdings in Broadcom were worth $539,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Howard Capital Management Group LLC lifted its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after buying an additional 2,908 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Invst LLC boosted its position in Broadcom by 928.6% during the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock worth $522,000 after acquiring an additional 2,730 shares during the last quarter. McIlrath & Eck LLC grew its stake in Broadcom by 793.3% during the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after acquiring an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank raised its holdings in Broadcom by 900.9% in the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock valued at $2,743,000 after acquiring an additional 14,315 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AVGO shares. Barclays dropped their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup lowered their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America lowered 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. Finally, Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Up 5.2 %

AVGO traded up $8.87 on Wednesday, reaching $178.45. The company's stock had a trading volume of 12,672,668 shares, compared to its average volume of 31,208,987. 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 cap of $839.06 billion, a price-to-earnings ratio of 145.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The business's 50 day moving average is $187.11 and its 200 day moving average is $195.98.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The shares were 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 directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's 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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 719,776 shares of company stock worth $131,065,542. Insiders own 2.00% of the company's stock.

About Broadcom

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.