Transce3nd LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Transce3nd LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,206 shares of the semiconductor manufacturer’s stock, valued at approximately $1,204,000.

Other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division lifted 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 worth $4,858,000 after buying an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $244,000. Motive Wealth Advisors boosted its holdings in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after acquiring an additional 350,485 shares during the period. Finally, Franchise Capital Ltd purchased a new position in Broadcom in the fourth quarter worth about $2,017,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 25,380 shares of the company’s stock, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last three months. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVGO. Barclays boosted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Citigroup cut their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, 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. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.28.

Broadcom Stock Performance

Broadcom stock opened at $170.99 on Friday. 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 Inc. has a twelve month low of $120.05 and a twelve month high of $251.88. The company’s 50-day moving average price is $189.84 and its 200-day moving average price is $196.07. The company has a market cap 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 announced that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.38%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

About Broadcom

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.