Arthur M. Cohen & Associates LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Arthur M. Cohen & Associates LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,751 shares of the semiconductor manufacturer’s stock after acquiring an additional 631 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Broadcom were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter worth about $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.00.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $261.08 on Thursday. The firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 212.95, a P/E/G ratio of 2.29 and a beta of 1.11. The firm has a fifty day moving average price of $200.31 and a 200 day moving average price of $205.00. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. 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 declared that its board has authorized a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.