Alta Advisers Ltd Increases Broadcom Inc. Holdings by Nearly 20%

Alta Advisers Ltd has raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 19.9% during the fourth quarter, as indicated by its latest filing with the Securities and Exchange Commission. After acquiring an additional 2,589 shares, the firm now holds a total of 15,599 shares in the semiconductor company. This investment represents approximately 2.3% of Alta Advisers Ltd's entire portfolio, making Broadcom the firm’s 11th largest holding. By the end of the last quarter, Alta Advisers Ltd's holdings in Broadcom were valued at about $3,616,000.

Institutional Investor Activity

Other institutional investors have also modified their positions in Broadcom. For instance, Harvest Investment Services LLC increased its stake by 0.3% in the fourth quarter and now owns 39,165 shares valued at $9,080,000 after adding 112 shares. Nippon Life Global Investors Americas Inc. raised its investment by 6.4%, acquiring an additional 930 shares, bringing its total to 15,470 shares worth $3,587,000. Soros Capital Management LLC initiated a new position in Broadcom worth around $12,774,000. Additionally, Fayez Sarofim & Co enhanced its stake by 4.3%, now owning 67,960 shares valued at $15,756,000 following the purchase of 2,820 shares. Finally, J. Safra Sarasin Holding AG increased its holdings by 2.7%, bringing its total to 526,021 shares with a value of $121,979,000. Interestingly, institutional investors and hedge funds collectively own 76.43% of Broadcom's stock.

Current Market Performance

On Monday, NASDAQ:AVGO opened at $191.66. Broadcom Inc. has experienced a 12-month range, with a low of $119.76 and a high of $251.88. The company boasts a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, and a price-to-earnings-to-growth (P/E/G) ratio of 2.29. Its beta stands at 1.01. An analysis of the company's moving averages shows a 50-day average of $214.38 and a 200-day average of $195.37. Broadcom's current ratio is 1.17, with a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Dividend Declaration

Broadcom recently announced a quarterly dividend, which is scheduled for payment on March 31. Shareholders on record as of March 20 will receive a dividend payment of $0.59 per share. This translates to an annualized dividend payment of $2.36, resulting in a yield of 1.23%. The ex-dividend date is also set for March 20, and the company has a payout ratio of 113.46%.

Analyst Ratings and Forecasts

Recent analyst reports on Broadcom have varied, with HSBC Global Research adjusting their rating to "hold" on December 3. Meanwhile, Robert W. Baird increased the price target from $195.00 to $210.00, giving the stock an "outperform" rating on December 13. Barclays raised their target from $205.00 to $260.00, describing the stock as "overweight" in a note on January 17. Deutsche Bank also updated its price target from $190.00 to $240.00 with a "buy" rating. Evercore ISI then raised their estimate from $201.00 to $250.00, maintaining an "outperform" rating. Overall, three analysts have issued a hold rating while 25 have provided a buy rating, leading to an average analyst recommendation of "Moderate Buy" with a target price of $231.48.

Insider Activity

In addition to institutional investments, there have been significant insider transactions at Broadcom. Specifically, insider Charlie B. Kawwas sold 40,000 shares on January 2 at an average price of $231.98, totaling approximately $9,279,200. Following this sale, Kawwas now holds 696,730 shares valued at around $161,627,425.40. Additionally, Director Eddy W. Hartenstein sold 4,000 shares on January 8 at an average price of $229.64, amounting to roughly $918,560. After this transaction, Hartenstein retained 46,400 shares valued at about $10,655,296. Over the past 90 days, insiders have sold 157,168 shares worth approximately $37,108,677, while corporate insiders hold 2.00% of the company’s stock.

Overview of Broadcom Inc.

Broadcom Inc. specializes in designing, developing, and supplying a wide range of semiconductor devices. It particularly focuses on complex digital and mixed-signal complementary metal-oxide-semiconductor (CMOS) devices, in addition to analog III-V products. The company operates through two main segments: Semiconductor Solutions and Infrastructure Software.

Broadcom, Stocks, Investments