Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Ratan Capital Management LP

Ratan Capital Management LP increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,610 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,605 shares during the quarter. Broadcom accounts for about 2.8% of Ratan Capital Management LP’s investment portfolio, making the stock its 10th largest holding. Ratan Capital Management LP’s holdings in Broadcom were worth $18,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Redwood Financial Network Corp bought a new position in shares of Broadcom during the fourth quarter valued at approximately $432,000. Redwood Investment Management LLC increased its position in Broadcom by 52.1% in the fourth quarter. Redwood Investment Management LLC now owns 5,700 shares of the semiconductor manufacturer’s stock worth $1,322,000 after buying an additional 1,952 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Broadcom in the fourth quarter valued at $10,280,000. Point72 Asset Management L.P. boosted its holdings in shares of Broadcom by 133.1% during the fourth quarter. Point72 Asset Management L.P. now owns 636,648 shares of the semiconductor manufacturer’s stock valued at $147,600,000 after acquiring an additional 363,544 shares during the period. Finally, Polar Asset Management Partners Inc. grew its position in shares of Broadcom by 344.4% during the fourth quarter. Polar Asset Management Partners Inc. now owns 280,000 shares of the semiconductor manufacturer’s stock worth $64,915,000 after acquiring an additional 217,000 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $232.12 on Thursday. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 189.33, a PEG ratio of 2.29 and a beta of 1.04. The stock has a fifty day moving average of $185.35 and a 200-day moving average of $198.49. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom declared that its Board of Directors has approved a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign 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. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Mizuho lowered their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

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.