Soros Capital Management LLC Buys Shares of 55,100 Broadcom Inc. (NASDAQ:AVGO)

Soros Capital Management LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,100 shares of the semiconductor manufacturer's stock, valued at approximately $12,774,000. Broadcom makes up about 2.0% of Soros Capital Management LLC's portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Performance

NASDAQ:AVGO traded up $11.24 during trading hours on Thursday, hitting $188.15. 27,491,846 shares of the company traded hands, compared to its average volume of 31,276,133. 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 Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. The firm has a 50-day moving average of $185.99 and a 200 day moving average of $195.85. The stock has a market capitalization of $884.67 billion, a price-to-earnings ratio of 153.47, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is presently 113.46%.

Broadcom declared that its board has approved a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on 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. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 over the last three months. 2.00% of the stock is owned by corporate insiders.

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.