Nebula Research & Development LLC Buys 14,399 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nebula Research & Development LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,100.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,707 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,399 shares during the period. Broadcom comprises about 0.4% of Nebula Research & Development LLC’s holdings, making the stock its 20th largest holding. Nebula Research & Development LLC’s holdings in Broadcom were worth $3,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new position in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter worth $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter worth $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction 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. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $188.15 on Friday. The firm has a market cap of $884.67 billion, a PE ratio of 153.47, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1-year low of $122.33 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $185.09 and a two-hundred day simple moving average of $195.94.

Broadcom declared that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AVGO shares. Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Bank of America reduced their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Truist Financial boosted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, William Blair reaffirmed 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 issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target 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.