Albar Capital Partners LLP Makes New Investment in Broadcom Inc. $AVGO

Albar Capital Partners LLP acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the second quarter, according to its most recent filing with the SEC. The firm acquired 27,138 shares of the semiconductor manufacturer’s stock, valued at approximately $7,481,000. Broadcom comprises approximately 1.3% of Albar Capital Partners LLP’s holdings, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after buying an additional 39,466 shares during the period. Capital Counsel LLC NY purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $221,000. Waterloo Capital L.P. boosted its position in shares of Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after purchasing an additional 3,180 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after purchasing an additional 13,978 shares during the period. Finally, RiverFront Investment Group LLC raised its holdings in Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after purchasing an additional 8,566 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

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

Insider Activity

In related news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 837,433 shares of company stock valued at $303,900,352 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Citigroup restated a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. UBS Group reissued a “buy” rating and set a $472.00 price target (up from $415.00) on shares of Broadcom in a research report on Monday, December 1st. Oppenheimer restated an “outperform” rating and issued a $435.00 price objective (up previously from $400.00) on shares of Broadcom in a report on Friday. Truist Financial lifted their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Bank of America boosted their price target on Broadcom from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Buy” and a consensus price target of $392.46.

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.