Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by Mar Vista Investment Partners LLC

Mar Vista Investment Partners LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 263,005 shares of the semiconductor manufacturer's stock after purchasing an additional 40,140 shares during the quarter. Broadcom accounts for about 4.2% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 7th largest holding. Mar Vista Investment Partners LLC's holdings in Broadcom were worth $60,975,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $32,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom during the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new position in Broadcom in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Bank of America decreased their price target 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. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup reduced their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $4.16 during trading hours on Friday, hitting $192.31. 21,216,875 shares of the company's stock traded hands, compared to its average volume of 31,284,383. The company's fifty day simple moving average is $184.36 and its two-hundred day simple moving average is $196.02. The company has a market cap of $904.23 billion, a price-to-earnings ratio of 156.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $122.33 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The firm also recently announced 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 was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by insiders.

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.