Mirabella Financial Services LLP Invests $12.48 Million in Broadcom Inc. (NASDAQ:AVGO)

Mirabella Financial Services LLP bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 53,873 shares of the semiconductor manufacturer's stock, valued at approximately $12,482,000. Broadcom makes up approximately 1.1% of Mirabella Financial Services LLP's holdings, making the stock its 19th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Howard Capital Management Group LLC lifted its position in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. Invst LLC lifted its holdings in shares of Broadcom by 928.6% in the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock valued at $522,000 after purchasing an additional 2,730 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of Broadcom by 793.3% during the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after buying an additional 357 shares during the last quarter. Finally, Passumpsic Savings Bank grew its holdings in Broadcom by 900.9% during the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock worth $2,743,000 after buying an additional 14,315 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock traded up $10.91 during midday trading on Thursday, reaching $187.82. 13,376,742 shares of the company's stock traded hands, compared to its average volume of 32,039,018. Broadcom Inc. has a 52 week low of $122.33 and a 52 week high of $251.88. The company has a 50-day moving average price of $185.99 and a two-hundred day moving average price of $195.85. 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 has a market capitalization of $883.14 billion, a PE ratio of 153.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays dropped their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday. Bank of America reduced their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a 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 $229.48.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last quarter. 2.00% of the stock is owned by company insiders.

About Broadcom

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.