Warren Street Wealth Advisors LLC Acquires 1,051 Shares of Broadcom Inc. (NASDAQ:AVGO)

Warren Street Wealth Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,012 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,051 shares during the period. Broadcom makes up approximately 0.5% of Warren Street Wealth Advisors LLC’s holdings, making the stock its 28th biggest position. Warren Street Wealth Advisors LLC’s holdings in Broadcom were worth $1,341,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America decreased their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Barclays decreased their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $246.00.

Broadcom Price Performance

AVGO stock opened at $261.08 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $1.23 trillion, a P/E ratio of 212.95, a P/E/G ratio of 2.29 and a beta of 1.11. The business’s 50-day moving average is $200.31 and its two-hundred day moving average is $205.00. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43.

Broadcom declared that its board has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now 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 legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.