Orser Capital Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Orser Capital Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,825 shares of the semiconductor manufacturer’s stock, valued at approximately $808,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the 4th quarter valued at $32,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Mizuho lifted their price target on Broadcom from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Truist Financial lifted their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.77.

Broadcom Stock Up 2.7%

Shares of AVGO opened at $248.71 on Tuesday. The company has a market capitalization of $1.17 trillion, a PE ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The stock’s 50-day moving average price is $196.77 and its two-hundred day moving average price is $204.25. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding 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 generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents 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 ninety days. 2.00% of the stock is owned by company insiders.

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.