111 Capital Invests $6.83 Million in Broadcom Inc. (NASDAQ:AVGO)

111 Capital acquired a new position 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 institutional investor acquired 29,449 shares of the semiconductor manufacturer's stock, valued at approximately $6,827,000. Broadcom makes up 1.4% of 111 Capital's investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors have also made changes to their positions in the business. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after purchasing an additional 18,845 shares during the period. Nebula Research & Development LLC grew its position in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares in the last quarter. TTP Investments Inc. boosted its holdings in shares of Broadcom by 71.7% in the 4th quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after purchasing an additional 25,330 shares in the last quarter. Destiny Wealth Partners LLC boosted its holdings in shares of Broadcom by 1,211.3% in the 4th quarter. Destiny Wealth Partners LLC now owns 27,013 shares of the semiconductor manufacturer's stock worth $6,263,000 after purchasing an additional 24,953 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in shares of Broadcom by 36.3% in the 4th quarter. Mediolanum International Funds Ltd now owns 634,112 shares of the semiconductor manufacturer's stock valued at $149,017,000 after acquiring an additional 168,774 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO traded down $2.47 on Friday, reaching $239.50. The company's stock had a trading volume of 27,045,094 shares, compared to its average volume of 31,042,485. The firm has a market cap of $1.13 trillion, a PE ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The business has a 50-day moving average price of $195.38 and a 200 day moving average price of $203.23. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. 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 declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is presently 113.46%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Oppenheimer upped their price target on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday. Benchmark reissued a "buy" rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Morgan Stanley raised their price objective 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. Finally, Susquehanna raised their price objective on shares of Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $238.77.

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.