May Hill Capital LLC Buys Shares of 5,912 Broadcom Inc. (NASDAQ:AVGO)

May Hill Capital LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,912 shares of the semiconductor manufacturer’s stock, valued at approximately $1,371,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the last quarter. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the business’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 transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 785,976 shares of company stock worth $147,912,102. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 1.0 %

Shares of NASDAQ AVGO opened at $167.43 on Tuesday. The firm has a market cap of $787.25 billion, a price-to-earnings ratio of 136.57, 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. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s 50-day simple moving average is $208.08 and its 200-day simple moving average is $196.54.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AVGO shares. Benchmark reissued a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.