Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 106.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,265,301 shares of the semiconductor manufacturer's stock after purchasing an additional 653,619 shares during the period. Broadcom comprises about 1.2% of Public Employees Retirement Association of Colorado's holdings, making the stock its 17th largest holding. Public Employees Retirement Association of Colorado's holdings in Broadcom were worth $293,347,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred 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 in the company, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business'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 value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $192.31 on Friday. The stock has a market capitalization of $904.23 billion, a price-to-earnings ratio of 156.86, a PEG ratio of 2.29 and a beta of 1.05. The business's 50 day moving average is $184.36 and its two-hundred day moving average is $196.09. Broadcom Inc. has a 12-month low of $122.33 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.

Broadcom declared that its board has initiated a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVGO shares. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Bank of America cut their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Mizuho decreased their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Three equities 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, the company has an average rating of "Moderate Buy" and a consensus target price of $229.48.

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.

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