Thoma Capital Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,343 shares of the semiconductor manufacturer's stock, valued at approximately $543,000.
A number of other large investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $32,000. 76.43% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Susquehanna increased their price objective on shares of Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a report on Thursday. Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.77.
Read Our Latest Research Report on AVGO
Broadcom Stock Performance
Shares of AVGO stock traded down $2.47 during midday trading on Friday, hitting $239.50. 27,045,094 shares of the company were exchanged, compared to its average volume of 31,042,485. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 195.35, 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. The firm's 50 day moving average price is $195.38 and its two-hundred day moving average price is $203.23. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88.
Broadcom Announces Dividend
The firm also recently disclosed 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 of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.
Broadcom announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred 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 owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.
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.
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