Intellus Advisors LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Intellus Advisors LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The fund purchased 56,476 shares of the semiconductor manufacturer’s stock, valued at approximately $13,093,000. Broadcom makes up approximately 2.3% of Intellus Advisors LLC’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. American Century Companies Inc. raised its holdings in shares of Broadcom by 72.8% in the 4th quarter. American Century Companies Inc. now owns 7,174,741 shares of the semiconductor manufacturer’s stock valued at $1,663,392,000 after purchasing an additional 3,022,589 shares during the period. Plancorp LLC raised its holdings in shares of Broadcom by 21.1% in the 4th quarter. Plancorp LLC now owns 8,193 shares of the semiconductor manufacturer’s stock valued at $1,899,000 after purchasing an additional 1,430 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $291,000. Mizuho Securities USA LLC raised its holdings in shares of Broadcom by 46.7% in the 4th quarter. Mizuho Securities USA LLC now owns 442,665 shares of the semiconductor manufacturer’s stock valued at $102,627,000 after purchasing an additional 140,821 shares during the period. Finally, Fi3 FINANCIAL ADVISORS LLC raised its holdings in shares of Broadcom by 1.3% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 8,453 shares of the semiconductor manufacturer’s stock valued at $1,960,000 after purchasing an additional 106 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,168 shares of company stock valued at $40,508,877 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $191.66 on Friday. 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 firm has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. The firm’s 50 day simple moving average is $214.38 and its 200 day simple moving average is $194.79. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is 113.46%.

About Broadcom

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.