6,027 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Rothschild Capital Partners LLC

Rothschild Capital Partners LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,027 shares of the semiconductor manufacturer’s stock, valued at approximately $1,397,000.

A number of other institutional investors have also recently bought and sold shares of AVGO. Kovitz Investment Group Partners LLC grew its position in Broadcom by 326.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,179,637 shares of the semiconductor manufacturer’s stock worth $273,487,000 after buying an additional 902,987 shares in the last quarter. Topsail Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $309,000. Keyvantage Wealth LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $599,000. Stonebridge Capital Advisors LLC increased its position in shares of Broadcom by 4.8% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 2,525 shares of the semiconductor manufacturer’s stock worth $585,000 after purchasing an additional 115 shares during the period. Finally, Empire Financial Management Company LLC raised its stake in Broadcom by 1.2% in the fourth quarter. Empire Financial Management Company LLC now owns 20,527 shares of the semiconductor manufacturer’s stock valued at $4,759,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 6.4 %

Shares of AVGO stock opened at $188.15 on Friday. Broadcom Inc. has a 1-year low of $122.33 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $884.67 billion, a price-to-earnings ratio of 153.47, a PEG ratio of 2.29 and a beta of 1.05. The stock has a 50-day moving average of $185.09 and a 200-day moving average of $195.94.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.25%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated 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 directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the company’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 sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock worth $131,065,542. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Mizuho decreased their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Barclays decreased their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

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.