Orser Capital Management LLC Makes New $768,000 Investment in Broadcom Inc. $AVGO

Orser Capital Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, Holdings Channel reports. The firm bought 2,327 shares of the semiconductor manufacturer’s stock, valued at approximately $768,000.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Broadcom during the 2nd quarter worth $18,579,549,000. Price T Rowe Associates Inc. MD increased its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Vanguard Group Inc. raised its stake in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. Edgewood Management LLC acquired a new stake in Broadcom in the 2nd quarter worth about $1,571,438,000. Finally, Alliancebernstein L.P. boosted its holdings in Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVGO shares. Mizuho lifted their price target on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Piper Sandler reissued an “overweight” rating and set a $430.00 target price (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Morgan Stanley boosted their price target on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Citigroup reiterated a “buy” rating and set a $480.00 price objective (up from $415.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Buy” and a consensus target price of $435.96.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 24,527 shares of Broadcom stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $340.91, for a total value of $8,361,499.57. Following the completion of the sale, the insider owned 304,775 shares of the company’s stock, valued at approximately $103,900,845.25. The trade was a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 825,296 shares of company stock worth $299,151,975. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO stock opened at $329.88 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. The company has a 50 day simple moving average of $362.66 and a 200 day simple moving average of $320.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

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.