Sellwood Investment Partners LLC Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel.com reports. The firm purchased 140 shares of the semiconductor manufacturer’s stock, valued at approximately $32,000.

Several other large investors have also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler raised their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Down 1.6 %

AVGO opened at $188.26 on Wednesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $885.19 billion, a PE ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The firm’s 50 day simple moving average is $212.97 and its two-hundred day simple moving average is $196.00.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is owned by corporate insiders.

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.