Iron Gate Global Advisors LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Iron Gate Global Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 351.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,286 shares of the semiconductor manufacturer's stock after purchasing an additional 8,786 shares during the period. Broadcom comprises about 0.4% of Iron Gate Global Advisors LLC's investment portfolio, making the stock its 27th biggest holding. Iron Gate Global Advisors LLC's holdings in Broadcom were worth $2,617,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC boosted its position in Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA lifted its position in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC boosted its holdings in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC grew its position in shares of Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after purchasing an additional 47 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 2.1 %

AVGO traded down $3.62 during trading on Friday, reaching $170.99. 22,452,143 shares of the company's stock were exchanged, compared to its average volume of 31,367,663. 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 Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a fifty day moving average price of $191.12 and a two-hundred day moving average price of $195.87. The stock has a market capitalization 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.

Broadcom declared that its Board of Directors has initiated a share repurchase plan 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVGO shares. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Truist Financial boosted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Benchmark reissued a "buy" rating and set a $255.00 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 and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $231.28.

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.