Broadcom Inc. (NASDAQ:AVGO) is Inspire Trust Co. N.A.’s 6th Largest Position

Inspire Trust Co. N.A. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 39,400 shares of the semiconductor manufacturer’s stock after acquiring an additional 190 shares during the quarter. Broadcom comprises approximately 2.3% of Inspire Trust Co. N.A.’s portfolio, making the stock its 6th biggest holding. Inspire Trust Co. N.A.’s holdings in Broadcom were worth $9,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KFA Private Wealth Group LLC increased its position in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after acquiring an additional 42 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC increased its holdings in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares in the last quarter. Register Financial Advisors LLC increased its holdings in Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $856,000 after purchasing an additional 47 shares in the last quarter. Finally, SlateStone Wealth LLC raised its position in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, April 11th. Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Bank of America reduced 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, April 16th. Finally, Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $229.48.

Broadcom Stock Down 0.8%

Shares of Broadcom stock opened at $229.73 on Thursday. The business has a 50-day moving average price of $189.30 and a 200 day moving average price of $200.47. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The firm has a market cap of $1.08 trillion, a P/E ratio of 187.38, a P/E/G ratio of 2.29 and a beta of 1.04. 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 declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared 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 dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 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.