Bullseye Investment Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Bullseye Investment Management LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,600 shares of the semiconductor manufacturer’s stock, valued at approximately $1,995,000. Broadcom comprises about 1.3% of Bullseye Investment Management LLC’s holdings, making the stock its 21st biggest position.

Several other institutional investors also recently made changes to their positions in AVGO. Central Pacific Bank Trust Division increased its position in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in shares of Broadcom during the fourth quarter worth about $244,000. Strait & Sound Wealth Management LLC increased its holdings in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares during the period. Motive Wealth Advisors lifted its position in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after purchasing an additional 350,485 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, 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 sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 785,976 shares of company stock valued at $147,912,102 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO opened at $169.12 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock’s 50 day moving average price is $209.48 and its two-hundred day moving average price is $196.25. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.