48,400 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 48,400 shares of the semiconductor manufacturer’s stock, valued at approximately $11,221,000.

Several other hedge funds have also bought and sold shares of AVGO. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $32,000. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 1.0 %

Shares of NASDAQ:AVGO opened at $167.43 on Tuesday. The firm has a market capitalization of $787.25 billion, a P/E ratio of 136.57, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a 50 day moving average price of $208.08 and a 200-day moving average price of $196.54. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued 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 1.41%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. KeyCorp boosted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Susquehanna increased 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. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.