Armis Advisers LLC Makes New $337,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Armis Advisers LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,456 shares of the semiconductor manufacturer's stock, valued at approximately $337,000.

Other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick bought a new position in Broadcom in the fourth quarter valued at $357,000. Capital & Planning LLC boosted its position in Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after buying an additional 554 shares during the period. LaFleur & Godfrey LLC boosted its position in Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after buying an additional 12,345 shares during the period. First PREMIER Bank boosted its position in Broadcom by 117.9% during the fourth quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer's stock valued at $197,000 after buying an additional 460 shares during the period. Finally, D.B. Root & Company LLC boosted its position in Broadcom by 3.6% during the fourth quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock valued at $1,281,000 after buying an additional 191 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company's stock, valued at $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 ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $6.93 during midday trading on Tuesday, hitting $235.65. 17,906,364 shares of the stock traded hands, compared to its average volume of 31,055,312. The firm has a 50-day moving average of $191.49 and a two-hundred day moving average of $201.86. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 192.21, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom announced that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy 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 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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom's payout ratio is 113.46%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America lowered their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.