Capital International Ltd. CA Has $134.10 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Capital International Ltd. CA trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,409 shares of the semiconductor manufacturer’s stock after selling 32,883 shares during the quarter. Broadcom makes up 5.5% of Capital International Ltd. CA’s investment portfolio, making the stock its 2nd largest position. Capital International Ltd. CA’s holdings in Broadcom were worth $134,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AVGO shares. Bank of America cut their price target on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.28.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 38,798,721 shares in the company, valued at $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 is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 2.1 %

AVGO stock opened at $170.99 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market capitalization of $803.99 billion, a P/E ratio of 139.47, a P/E/G ratio of 2.29 and a beta of 1.05. The business has a fifty day moving average price of $191.12 and a 200-day moving average price of $195.87.

Broadcom Announces Dividend

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

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

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.