Argentarii LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Argentarii LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 23,375 shares of the semiconductor manufacturer’s stock, valued at approximately $5,419,000. Broadcom accounts for approximately 2.7% of Argentarii LLC’s investment portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Broadcom stock opened at $194.96 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $222.28 and its 200 day simple moving average is $192.93. The firm has a market capitalization of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 191.87%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.