PARUS FINANCE UK Ltd Purchases Shares of 36,540 Broadcom Inc. (NASDAQ:AVGO)

PARUS FINANCE UK Ltd acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,540 shares of the semiconductor manufacturer’s stock, valued at approximately $8,471,000. Broadcom makes up 2.7% of PARUS FINANCE UK Ltd’s portfolio, making the stock its 13th largest holding.

A number of other hedge funds have also made changes to their positions in the business. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The stock was 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 approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on 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 owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 785,976 shares of company stock valued at $147,912,102 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7 %

NASDAQ:AVGO opened at $169.12 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50 day simple moving average of $209.48 and a 200 day simple moving average of $195.91. The firm has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.