Katamaran Capital LLP Invests $3.81 Million in Broadcom Inc. (NASDAQ:AVGO)

Katamaran Capital LLP purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,453 shares of the semiconductor manufacturer’s stock, valued at approximately $3,814,000. Broadcom comprises 4.9% of Katamaran Capital LLP’s holdings, making the stock its 5th largest position.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after purchasing an additional 3,018,294 shares in the last quarter. Norges Bank acquired a new stake in Broadcom in the 4th quarter worth about $16,893,010,000. Charles Schwab Investment Management Inc. boosted its holdings in Broadcom by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock valued at $7,606,291,000 after purchasing an additional 810,907 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Broadcom by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock worth $6,236,011,000 after purchasing an additional 5,783,988 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. KeyCorp raised their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Susquehanna raised 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. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 745,976 shares of company stock valued at $138,632,902 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $146.29 on Friday. The company has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a fifty day simple moving average of $201.57 and a 200 day simple moving average of $195.95. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given 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 dividend yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom Company 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.