Broadcom Inc. (NASDAQ:AVGO) is Mar Vista Investment Partners LLC’s 7th Largest Position

Mar Vista Investment Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,005 shares of the semiconductor manufacturer’s stock after buying an additional 40,140 shares during the period. Broadcom comprises 4.2% of Mar Vista Investment Partners LLC’s investment portfolio, making the stock its 7th largest position. Mar Vista Investment Partners LLC’s holdings in Broadcom were worth $60,975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares during the period. FMR LLC grew its holdings in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the last quarter. Norges Bank purchased a new position in shares of Broadcom in the fourth quarter worth $16,893,010,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after buying an additional 15,171,849 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.0 %

NASDAQ AVGO opened at $169.58 on Wednesday. The stock has a 50 day moving average price of $187.11 and a 200-day moving average price of $195.98. Broadcom Inc. has a one year low of $122.33 and a one 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 company has a market capitalization of $797.36 billion, a P/E ratio of 138.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.39%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on 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 directly 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. Insiders sold 719,776 shares of company stock valued at $131,065,542 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AVGO shares. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup lowered their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, April 11th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given 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 target price of $229.48.

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.