Seven Mile Advisory Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Seven Mile Advisory raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,746 shares of the semiconductor manufacturer’s stock after purchasing an additional 818 shares during the period. Broadcom accounts for approximately 1.1% of Seven Mile Advisory’s portfolio, making the stock its 16th largest holding. Seven Mile Advisory’s holdings in Broadcom were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 1.7 %

Shares of NASDAQ:AVGO opened at $169.12 on Monday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month 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 stock’s 50-day moving average price is $209.48 and its 200-day moving average price is $196.51. The stock 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.

Broadcom Dividend Announcement

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

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $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 90 days, insiders sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target 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.