111 Capital Makes New $6.83 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

111 Capital bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,449 shares of the semiconductor manufacturer’s stock, valued at approximately $6,827,000. Broadcom accounts for 1.4% of 111 Capital’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Tallon Kerry Patrick acquired a new position in Broadcom in the fourth quarter worth approximately $357,000. Capital & Planning LLC raised its position in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock valued at $969,000 after acquiring an additional 554 shares during the period. LaFleur & Godfrey LLC boosted its stake in Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock worth $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC increased its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Finally, Carr Financial Group Corp lifted its holdings in Broadcom by 3.7% during the 4th quarter. Carr Financial Group Corp now owns 6,091 shares of the semiconductor manufacturer’s stock worth $1,412,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction on 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 owns 25,380 shares of the company’s stock, valued at $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. 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 25,000 shares of Broadcom 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 sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Morgan Stanley boosted their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $235.65 on Wednesday. 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 company’s 50-day moving average is $192.39 and its 200 day moving average is $202.10. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its board has approved a share 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 repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

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 1.00%. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom 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.