Motley Fool Asset Management LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Motley Fool Asset Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,006 shares of the semiconductor manufacturer’s stock after acquiring an additional 27,048 shares during the period. Broadcom accounts for 2.6% of Motley Fool Asset Management LLC’s portfolio, making the stock its 8th largest position. Motley Fool Asset Management LLC’s holdings in Broadcom were worth $49,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Howard Capital Management Group LLC lifted its position in shares of Broadcom by 2,219.8% during the third 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. lifted its position in Broadcom by 1,019.4% during 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 acquiring an additional 6,540,800 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Broadcom by 839.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 122,506 shares of the semiconductor manufacturer’s stock valued at $21,132,000 after acquiring an additional 109,459 shares during the last quarter. Morse Asset Management Inc grew its holdings in Broadcom by 899.9% in the third quarter. Morse Asset Management Inc now owns 66,044 shares of the semiconductor manufacturer’s stock worth $11,393,000 after purchasing an additional 59,439 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. increased its position in shares of Broadcom by 911.6% during the third quarter. Mission Creek Capital Partners Inc. now owns 36,115 shares of the semiconductor manufacturer’s stock worth $6,230,000 after purchasing an additional 32,545 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AVGO shares. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction 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 completion of the sale, the director now directly owns 38,798,721 shares in the company, 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. Over the last quarter, insiders sold 745,976 shares of company stock worth $138,632,902. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $172.09 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a 50 day moving average price of $205.27 and a 200-day moving average price of $196.37. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market cap of $809.16 billion, a price-to-earnings ratio of 140.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. Broadcom’s payout ratio is 113.46%.

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.