Argentarii LLC Makes New $5.42 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

Argentarii LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,375 shares of the semiconductor manufacturer’s stock, valued at approximately $5,419,000. Broadcom makes up approximately 2.7% of Argentarii LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at about $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new stake in Broadcom during the 4th quarter valued at about $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO opened at $194.96 on Friday. The stock has a market cap of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The firm has a fifty day moving average price of $222.28 and a 200 day moving average price of $192.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday. Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Citigroup raised their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.48.

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.