1,050 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Martin Investment Management LLC

Martin Investment Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,050 shares of the semiconductor manufacturer’s stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Howard Capital Management Group LLC grew its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Broadcom by 2,491.7% during the 3rd quarter. Edgestream Partners L.P. now owns 14,047 shares of the semiconductor manufacturer’s stock worth $2,423,000 after purchasing an additional 13,505 shares during the last quarter. Atom Investors LP boosted its stake in Broadcom by 1,447.9% in the 3rd quarter. Atom Investors LP now owns 17,073 shares of the semiconductor manufacturer’s stock valued at $2,945,000 after purchasing an additional 15,970 shares during the period. Finally, Cinctive Capital Management LP grew its holdings in Broadcom by 1,381.3% in the 3rd quarter. Cinctive Capital Management LP now owns 23,894 shares of the semiconductor manufacturer’s stock valued at $4,122,000 after buying an additional 22,281 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Three research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, 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. In the last three months, insiders have sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 0.7 %

Shares of AVGO stock opened at $168.52 on Wednesday. The stock has a 50-day moving average of $206.64 and a 200-day moving average of $196.54. 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 stock has a market cap of $792.37 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s payout ratio is 113.46%.

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.