Coldstream Capital Management Inc. Has $20.09 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Coldstream Capital Management Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,664 shares of the semiconductor manufacturer's stock after purchasing an additional 4,953 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Broadcom were worth $20,092,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC increased its holdings in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the last quarter. Norges Bank bought a new position in shares of Broadcom in the 4th quarter valued at approximately $16,893,010,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 2.2 %

NASDAQ AVGO opened at $192.31 on Friday. Broadcom Inc. has a 1-year low of $122.33 and a 1-year high of $251.88. The company 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 stock's 50 day moving average is $184.36 and its two-hundred day moving average is $196.02. 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 of Directors has initiated a stock repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AVGO shares. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Citigroup dropped their target price 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. Barclays decreased their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $229.48.

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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