Broadcom Inc. (NASDAQ:AVGO) is Capital International Sarl’s Largest Position

Capital International Sarl boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,083,262 shares of the semiconductor manufacturer’s stock after purchasing an additional 21,318 shares during the period. Broadcom makes up approximately 5.8% of Capital International Sarl’s holdings, making the stock its largest position. Capital International Sarl’s holdings in Broadcom were worth $251,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its position in shares of Broadcom by 21.5% during the 4th 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 during the period. Wolff Financial Management LLC bought a new stake in Broadcom during the fourth quarter valued at about $244,000. Motive Wealth Advisors increased its position 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 buying an additional 4,209 shares in the last quarter. Tidal Investments LLC raised its stake 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 buying an additional 350,485 shares during the period. Finally, Franchise Capital Ltd purchased a new position in shares of Broadcom during the 4th quarter valued at about $2,017,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho decreased their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.28.

Broadcom Price Performance

AVGO stock opened at $170.99 on Friday. The stock has a market cap of $803.99 billion, a PE ratio of 139.47, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a 50-day moving average price of $191.12 and a 200 day moving average price of $195.87. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The firm also recently announced 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 of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.38%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its board has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of Broadcom 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 owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by company insiders.

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.