Alta Advisers Ltd Increases Stake in Broadcom Inc. by 19.9%

Alta Advisers Ltd has increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 19.9% during the fourth quarter, according to the latest filing with the Securities and Exchange Commission. Following this acquisition, the firm now holds a total of 15,599 shares of the semiconductor company after buying an additional 2,589 shares in the last quarter. Broadcom represents roughly 2.3% of Alta Advisers Ltd’s total portfolio, making it the firm’s 11th largest investment. As of the end of the quarter, the value of Alta Advisers Ltd's holdings in Broadcom was approximately $3,616,000.

Changes in Institutional Holdings

Other institutional investors have also adjusted their stakes in Broadcom. For instance, Harvest Investment Services LLC increased its investment by 0.3%, bringing its total to 39,165 shares valued at about $9,080,000 after acquiring an additional 112 shares. Similarly, Nippon Life Global Investors Americas Inc. raised its stake by 6.4% and now owns 15,470 shares worth $3,587,000 after adding 930 shares to its holdings. Additionally, Soros Capital Management LLC initiated a new position valued at around $12,774,000. Fayez Sarofim & Co. grew its shareholding by 4.3%, and after acquiring 2,820 more shares, now holds 67,960 shares valued at $15,756,000. Lastly, J. Safra Sarasin Holding AG lifted its stake by 2.7%, owning 526,021 shares worth $121,979,000 after purchasing an additional 13,591 shares. It is noteworthy that 76.43% of Broadcom’s stock is held by institutional investors and hedge funds.

Recent Stock Performance

On Monday, NASDAQ:AVGO opened at $191.66. Broadcom has seen a 12-month low of $119.76 and a high of $251.88. The market capitalization of Broadcom is $901.18 billion, with a price-to-earnings ratio of 156.33. The company’s 50-day moving average price is $214.38, while its 200-day moving average price is $195.37. Broadcom holds a current ratio of 1.17, a quick ratio of 1.07, and a debt-to-equity ratio of 0.98.

Dividend Announcement

Broadcom has also recently announced a quarterly dividend that will be distributed on March 31st. Shareholders who are on record as of March 20th will receive a payment of $0.59 per share, translating to an annualized dividend of $2.36, with a yield of 1.23%. The ex-dividend date is also set for March 20th. Notably, Broadcom’s payout ratio stands at 113.46%.

Analyst Ratings and Insights

Various analysts have changed their ratings for Broadcom. For example, HSBC Global Research upgraded Broadcom to a "hold" rating. Analysts at Robert W. Baird increased their target price for the stock from $195.00 to $210.00 and assigned an "outperform" rating. Barclays has moved their target price up from $205.00 to $260.00 while maintaining an "overweight" rating. Similarly, Deutsche Bank raised their price target from $190.00 to $240.00 and affirmed a "buy" rating for the company. Furthermore, Evercore ISI increased their target price from $201.00 to $250.00 with an "outperform" stance. Presently, three analysts have rated Broadcom with a hold, while twenty-five have a buy rating, leading to an average rating of "Moderate Buy" and a target price of approximately $231.48.

Insider Activities

In related news, some insiders have been selling shares of Broadcom. For instance, Charlie B. Kawwas sold 40,000 shares on January 2nd at an average price of $231.98, totaling $9,279,200. Following this transaction, Kawwas holds 696,730 shares, valued at around $161,627,425.40. This sale indicates a 5.43% decrease in his ownership. Meanwhile, Director Eddy W. Hartenstein sold 4,000 shares on January 8th at an average value of $229.64, for a total of $918,560. After this sale, he retains ownership of 46,400 shares, worth approximately $10,655,296, reflecting a decrease of 7.94%. In the past 90 days, insiders have sold a total of 157,168 shares worth $37,108,677, with corporate insiders holding about 2.00% of Broadcom's stock.

About Broadcom Inc.

Broadcom Inc. specializes in designing, developing, and supplying various semiconductor devices, focusing on complex digital, mixed-signal complementary metal oxide semiconductors and analog III-V based products on a global scale. The company operates through two main segments: Semiconductor Solutions and Infrastructure Software.

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