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

Broadcom logo with Computer and Technology background

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

A number of other large investors have also made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $32,000. 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 firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.8%

Broadcom stock traded up $1.84 during trading hours on Thursday, hitting $241.27. The company had a trading volume of 11,814,843 shares, compared to its average volume of 30,970,539. The firm has a market cap of $1.13 trillion, a P/E ratio of 197.20, a P/E/G 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 1 year low of $128.50 and a 1 year high of $251.88. The company has a 50-day moving average price of $193.34 and a two-hundred day moving average price of $202.36.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed 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 0.98%. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Bank of America dropped their price target 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. Morgan Stanley lifted 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 decreased their price target 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.15.

View Our Latest Analysis on Broadcom

About Broadcom

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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