Sentinus LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Sentinus LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,561 shares of the semiconductor manufacturer’s stock after purchasing an additional 263 shares during the quarter. Sentinus LLC’s holdings in Broadcom were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $228.61 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 one year low of $128.50 and a one year high of $251.88. The firm has a market capitalization of $1.07 trillion, a P/E ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04. The business has a fifty day moving average of $187.08 and a 200 day moving average of $199.25.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Broadcom announced that its board has initiated a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom 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.