Wayfinding Financial LLC Makes New $822,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Wayfinding Financial LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,549 shares of the semiconductor manufacturer's stock, valued at approximately $822,000.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Central Pacific Bank Trust Division increased its stake in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after acquiring an additional 3,707 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $244,000. Strait & Sound Wealth Management LLC increased its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors raised its holdings in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after buying an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after buying an additional 350,485 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

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Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,168 shares of company stock worth $37,108,677. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVGO. Barclays lifted their target price on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Trading Down 0.2 %

AVGO traded down $0.41 during trading on Monday, hitting $191.25. The company's stock had a trading volume of 33,115,698 shares, compared to its average volume of 28,963,826. The firm has a market capitalization of $899.25 billion, a P/E ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock's fifty day moving average price is $213.70 and its 200-day moving average price is $195.64. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

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.