Oribel Capital Management LP Acquires Shares of 14,600 Broadcom Inc. (NASDAQ:AVGO)

Oribel Capital Management LP bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 14,600 shares of the semiconductor manufacturer’s stock, valued at approximately $3,385,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sepio Capital LP grew its position in Broadcom by 27.8% in the fourth quarter. Sepio Capital LP now owns 1,839 shares of the semiconductor manufacturer’s stock valued at $426,000 after acquiring an additional 400 shares during the last quarter. Ruggaard & Associates LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $243,000. Darden Wealth Group Inc grew its holdings in shares of Broadcom by 16.3% during the 4th quarter. Darden Wealth Group Inc now owns 22,025 shares of the semiconductor manufacturer’s stock valued at $5,106,000 after purchasing an additional 3,085 shares during the last quarter. MIG Capital LLC acquired a new position in Broadcom during the 4th quarter worth approximately $356,000. Finally, Quadrant Capital Group LLC lifted its stake in Broadcom by 0.7% in the 4th quarter. Quadrant Capital Group LLC now owns 50,118 shares of the semiconductor manufacturer’s stock valued at $11,619,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $146.29 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market cap of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The stock has a 50-day moving average of $201.57 and a 200-day moving average of $196.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVGO shares. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 745,976 shares of company stock worth $138,632,902 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.