Tairen Capital Ltd Invests $440,000 in Broadcom Inc. (NASDAQ:AVGO)

Tairen Capital Ltd purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,900 shares of the semiconductor manufacturer’s stock, valued at approximately $440,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC lifted its stake in Broadcom by 3.0% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer’s stock valued at $3,086,000 after purchasing an additional 386 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of Broadcom during the 4th quarter valued at $357,000. Capital & Planning LLC lifted its position in shares of Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock valued at $969,000 after buying an additional 554 shares during the last quarter. Channel Wealth LLC grew its stake in shares of Broadcom by 11.4% during the 4th quarter. Channel Wealth LLC now owns 15,405 shares of the semiconductor manufacturer’s stock worth $3,572,000 after acquiring an additional 1,571 shares during the period. Finally, Goldstone Financial Group LLC increased its holdings in Broadcom by 20.8% in the 4th quarter. Goldstone Financial Group LLC now owns 5,738 shares of the semiconductor manufacturer’s stock worth $1,330,000 after acquiring an additional 987 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.7%

Shares of AVGO stock opened at $228.61 on Monday. The business has a 50-day moving average price of $187.08 and a two-hundred day moving average price of $199.61. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.07 trillion, a P/E ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom’s payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note 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 report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

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.