Elgethun Capital Management Purchases 230 Shares of Broadcom Inc. (NASDAQ:AVGO)

Elgethun Capital Management boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,980 shares of the semiconductor manufacturer’s stock after purchasing an additional 230 shares during the period. Elgethun Capital Management’s holdings in Broadcom were worth $923,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Howard Capital Management Group LLC boosted its position in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares during the period. Tenere Capital LLC grew its stake in Broadcom by 1,181.5% in the 3rd quarter. Tenere Capital LLC now owns 91,677 shares of the semiconductor manufacturer’s stock valued at $15,814,000 after buying an additional 84,523 shares during the last quarter. Dunhill Financial LLC grew its stake in Broadcom by 1,865.2% in the 3rd quarter. Dunhill Financial LLC now owns 904 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 858 shares during the last quarter. Finally, Dorsey Wright & Associates lifted its position in Broadcom by 932.5% during the third quarter. Dorsey Wright & Associates now owns 43,634 shares of the semiconductor manufacturer’s stock worth $7,527,000 after acquiring an additional 39,408 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 697,976 shares of company stock valued at $127,336,102. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. TD Cowen lifted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Down 5.0 %

Shares of NASDAQ AVGO opened at $146.29 on Monday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week 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’s 50 day moving average price is $201.57 and its 200-day moving average price is $196.43. The company has a market capitalization of $687.85 billion, a P/E ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. Broadcom’s payout ratio is currently 113.46%.

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.