Milestone Resources Group Ltd Purchases 252,623 Shares of Broadcom Inc. (NASDAQ:AVGO)

Milestone Resources Group Ltd boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 67.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 626,384 shares of the semiconductor manufacturer’s stock after acquiring an additional 252,623 shares during the period. Broadcom accounts for about 4.8% of Milestone Resources Group Ltd’s investment portfolio, making the stock its 7th largest position. Milestone Resources Group Ltd’s holdings in Broadcom were worth $145,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division raised its position in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC lifted its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Motive Wealth Advisors boosted its stake in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after acquiring an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Broadcom by 969.3% in 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 last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO opened at $188.67 on Wednesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market cap of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01. 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 company has a fifty day simple moving average of $216.48 and a 200 day simple moving average of $194.61.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.