Mission Creek Capital Partners Inc. Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Mission Creek Capital Partners Inc. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,541 shares of the semiconductor manufacturer’s stock after acquiring an additional 426 shares during the quarter. Broadcom accounts for 1.7% of Mission Creek Capital Partners Inc.’s portfolio, making the stock its 12th biggest holding. Mission Creek Capital Partners Inc.’s holdings in Broadcom were worth $8,472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AVGO. Howard Capital Management Group LLC lifted 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 valued at $524,000 after purchasing an additional 2,908 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Broadcom by 1,019.4% in the third 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. Invst LLC lifted its position in shares of Broadcom by 928.6% during the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer’s stock valued at $522,000 after buying an additional 2,730 shares in the last quarter. McIlrath & Eck LLC grew its stake in shares of Broadcom by 793.3% during the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer’s stock valued at $69,000 after acquiring an additional 357 shares during the period. Finally, Passumpsic Savings Bank increased its holdings in Broadcom by 900.9% in the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer’s stock worth $2,743,000 after acquiring an additional 14,315 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.2 %

AVGO opened at $192.31 on Friday. The stock has a 50-day moving average of $184.36 and a 200 day moving average of $196.09. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $122.33 and a 12 month high of $251.88. The firm has a market cap of $904.23 billion, a P/E ratio of 156.86, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AVGO shares. Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

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.