Sierra Summit Advisors LLC Purchases 2,022 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sierra Summit Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,487 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,022 shares during the period. Sierra Summit Advisors LLC’s holdings in Broadcom were worth $4,750,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $26,000. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter valued at $32,000. Finally, Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVGO shares. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

Shares of AVGO stock opened at $146.29 on Monday. The company has a market cap of $687.85 billion, a P/E ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. 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 Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The business has a fifty day simple moving average of $201.57 and a 200 day simple moving average of $196.43.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 697,976 shares of company stock valued at $127,336,102 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

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.