Gladstone Capital Management LLP Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Gladstone Capital Management LLP purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,200 shares of the semiconductor manufacturer’s stock, valued at approximately $13,725,000. Broadcom accounts for approximately 1.1% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 16th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the fourth quarter worth $32,000. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 5.0 %

Broadcom stock opened at $146.29 on Friday. 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 Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a 50-day simple moving average of $201.57 and a 200-day simple moving average of $195.95. The firm has a market capitalization of $687.85 billion, a P/E ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The company also recently declared 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 was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho reduced their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock 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 dated 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 sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 745,976 shares of company stock valued at $138,632,902. Insiders own 2.00% of the company’s stock.

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.