Bay Capital Advisors LLC Invests $1.11 Million in Broadcom Inc. (NASDAQ:AVGO)

Bay Capital Advisors LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,765 shares of the semiconductor manufacturer’s stock, valued at approximately $1,105,000. Broadcom makes up approximately 0.9% of Bay Capital Advisors LLC’s portfolio, making the stock its 26th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. grew its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.2 %

Shares of NASDAQ AVGO opened at $191.25 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market cap of $899.25 billion, a price-to-earnings ratio of 156.00, a P/E/G ratio of 2.29 and a beta of 1.01. The business has a fifty day simple moving average of $213.70 and a 200-day simple moving average of $195.64.

Broadcom Dividend Announcement

The company 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction 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. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock valued at $21,494,560 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVGO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Piper Sandler lifted 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. Rosenblatt Securities reiterated 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 report on Friday, December 13th. Finally, Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.