TFR Capital LLC. Takes Position in Broadcom Inc. (NASDAQ:AVGO)

TFR Capital LLC. acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,562 shares of the semiconductor manufacturer's stock, valued at approximately $2,217,000. Broadcom accounts for approximately 1.1% of TFR Capital LLC.'s investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Vanguard Group Inc. boosted its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after buying an additional 3,018,294 shares during the last quarter. FMR LLC increased its position in shares of Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares in the last quarter. Norges Bank purchased a new position in Broadcom in the 4th quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp lifted its position in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVGO shares. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Mizuho boosted their target price on Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $234.15.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

AVGO stock traded up $3.78 during midday trading on Wednesday, hitting $239.43. The company's stock had a trading volume of 20,260,131 shares, compared to its average volume of 31,045,413. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 195.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The company has a 50 day moving average of $192.39 and a two-hundred day moving average of $202.10.

Broadcom Dividend Announcement

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

Broadcom declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.