Aquatic Capital Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Aquatic Capital Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 62,318 shares of the semiconductor manufacturer's stock, valued at approximately $14,448,000.

Other institutional investors also recently modified their holdings of the company. Howard Capital Management Group LLC increased its stake in Broadcom by 2,219.8% during the 3rd 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. increased its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Invst LLC increased its stake in 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 purchasing an additional 2,730 shares in the last quarter. McIlrath & Eck LLC increased its stake in 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 purchasing an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank increased its stake in Broadcom by 900.9% during the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock valued at $2,743,000 after purchasing an additional 14,315 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other news, Director Justine Page sold 800 shares of the business's 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 transaction, the director now directly owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 in the last three months. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO traded down $1.67 during mid-day trading on Wednesday, reaching $189.50. 6,886,214 shares of the stock traded hands, compared to its average volume of 31,165,468. The firm has a fifty day moving average price of $182.92 and a 200 day moving average price of $196.21. The company has a market cap of $891.02 billion, a price-to-earnings ratio of 154.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. 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 1 year low of $122.33 and a 1 year high of $251.88.

Broadcom announced that its board has initiated a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup reduced their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $229.48.

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.