Landscape Capital Management L.L.C. Invests $727,000 in Broadcom Inc. (NASDAQ:AVGO)

Landscape Capital Management L.L.C. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,136 shares of the semiconductor manufacturer’s stock, valued at approximately $727,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $32,000. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 697,976 shares of company stock worth $127,336,102 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 5.0 %

NASDAQ:AVGO opened at $146.29 on Monday. The stock has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. 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 $119.76 and a 1 year high of $251.88. The business has a fifty day moving average of $201.57 and a 200-day moving average of $196.43.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.