Aster Capital Management DIFC Ltd Takes $6.97 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Aster Capital Management DIFC Ltd purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,067 shares of the semiconductor manufacturer’s stock, valued at approximately $6,971,000. Broadcom accounts for about 2.7% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds have also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

AVGO stock opened at $146.29 on Friday. The company has a market cap of $687.85 billion, a PE ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. 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 stock has a 50-day moving average price of $201.57 and a two-hundred day moving average price of $196.19. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 745,976 shares of company stock worth $138,632,902. Company insiders own 2.00% of the company’s stock.

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.