Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Seaview Investment Managers LLC

Seaview Investment Managers LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,383 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,816 shares during the period. Broadcom makes up about 3.8% of Seaview Investment Managers LLC’s holdings, making the stock its 3rd largest holding. Seaview Investment Managers LLC’s holdings in Broadcom were worth $13,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division raised its stake in shares of 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 in the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $244,000. Motive Wealth Advisors boosted its stake in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares during the period. Tidal Investments LLC grew its position in shares of Broadcom by 969.3% during the third 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 in the last quarter. Finally, Franchise Capital Ltd purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $2,017,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $170.99 on Friday. Broadcom Inc. has a 52 week low of $120.05 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $803.99 billion, a PE ratio of 139.47, a PEG ratio of 2.29 and a beta of 1.05. The company’s 50 day moving average price is $189.84 and its 200 day moving average price is $196.07.

Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares of the company’s stock, valued at $83,872,080. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on AVGO. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Barclays increased 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. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.