Headland Capital LLC Invests $243,000 in Broadcom Inc. (NASDAQ:AVGO)

Headland Capital LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,048 shares of the semiconductor manufacturer’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rehmann Capital Advisory Group raised its position in Broadcom by 4.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 17,577 shares of the semiconductor manufacturer’s stock valued at $4,075,000 after buying an additional 806 shares during the period. Wick Capital Partners LLC acquired a new position in Broadcom during the fourth quarter valued at $679,000. WealthCollab LLC raised its position in Broadcom by 14.6% during the fourth quarter. WealthCollab LLC now owns 763 shares of the semiconductor manufacturer’s stock valued at $177,000 after buying an additional 97 shares during the period. Bridgewealth Advisory Group LLC acquired a new position in Broadcom during the fourth quarter valued at $313,000. Finally, Voleon Capital Management LP acquired a new position in Broadcom during the fourth quarter valued at $14,313,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.7 %

Shares of AVGO stock opened at $191.17 on Wednesday. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The firm’s fifty day simple moving average is $182.92 and its 200 day simple moving average is $196.21. The firm has a market capitalization of $898.87 billion, a P/E ratio of 155.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. 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 announced that its board has authorized a stock buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now 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 filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business’s 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 directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock valued at $131,065,542 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVGO shares. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Barclays lowered 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. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

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.