Bullseye Investment Management LLC Acquires Shares of 8,600 Broadcom Inc. (NASDAQ:AVGO)

Bullseye Investment Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,600 shares of the semiconductor manufacturer’s stock, valued at approximately $1,995,000. Broadcom makes up 1.3% of Bullseye Investment Management LLC’s holdings, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of AVGO. Howard Capital Management Group LLC boosted its holdings in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Broadcom by 858.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,599,462 shares of the semiconductor manufacturer’s stock worth $456,095,000 after acquiring an additional 2,328,367 shares during the period. Atlantic Union Bankshares Corp increased its stake in Broadcom by 896.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 160,706 shares of the semiconductor manufacturer’s stock valued at $27,722,000 after purchasing an additional 144,584 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Broadcom by 903.0% during the third quarter. Captrust Financial Advisors now owns 1,025,690 shares of the semiconductor manufacturer’s stock worth $176,932,000 after purchasing an additional 923,426 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 785,976 shares of company stock valued at $147,912,102 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $169.12 on Friday. The company has a market cap of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock’s 50-day moving average is $209.48 and its 200-day moving average is $196.25.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s dividend payout ratio is currently 113.46%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. KeyCorp lifted their target price 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. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom 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.