Arrow Capital Pty Ltd Buys Shares of 15,000 Broadcom Inc. $AVGO

Arrow Capital Pty Ltd acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,000 shares of the semiconductor manufacturer’s stock, valued at approximately $4,135,000. Broadcom makes up approximately 3.1% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 17th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Valiant Capital Management L.P. grew its position in shares of Broadcom by 9.2% in the 2nd quarter. Valiant Capital Management L.P. now owns 234,740 shares of the semiconductor manufacturer’s stock valued at $64,706,000 after buying an additional 19,700 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Broadcom by 1.7% in the second quarter. NewEdge Advisors LLC now owns 1,010,002 shares of the semiconductor manufacturer’s stock worth $278,407,000 after acquiring an additional 16,787 shares during the period. Menora Mivtachim Holdings LTD. boosted its holdings in Broadcom by 25.3% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,740,574 shares of the semiconductor manufacturer’s stock valued at $479,789,000 after acquiring an additional 351,500 shares during the last quarter. Next Century Growth Investors LLC increased its position in Broadcom by 43.9% during the 2nd quarter. Next Century Growth Investors LLC now owns 25,194 shares of the semiconductor manufacturer’s stock valued at $6,945,000 after purchasing an additional 7,691 shares during the period. Finally, Albar Capital Partners LLP bought a new position in Broadcom during the 2nd quarter worth approximately $7,481,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Piper Sandler upped their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. KeyCorp set a $460.00 price target on Broadcom in a report on Monday, October 13th. Rosenblatt Securities boosted their price objective on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup reaffirmed a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $392.46.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $331.14, for a total transaction of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares in the company, valued at $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 837,433 shares of company stock worth $303,900,352. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.3%

Shares of NASDAQ AVGO opened at $406.29 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a 50-day moving average price of $359.78 and a 200-day moving average price of $315.15. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 103.65, a P/E/G ratio of 1.36 and a beta of 1.19. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $407.29.

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.