Orion Capital Management LLC Acquires 1,102 Shares of Broadcom Inc. (NASDAQ:AVGO)

Orion Capital Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 1,124.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,200 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,102 shares during the quarter. Orion Capital Management LLC’s holdings in Broadcom were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. First Dallas Securities Inc. purchased a new position in shares of Broadcom in the third quarter valued at about $417,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% in the third 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 during the period. Geode Capital Management LLC increased its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. Foyston Gordon & Payne Inc increased its position in shares of Broadcom by 791.2% in the third quarter. Foyston Gordon & Payne Inc now owns 98,527 shares of the semiconductor manufacturer’s stock valued at $16,996,000 after acquiring an additional 87,471 shares during the period. Finally, MidWestOne Financial Group Inc. increased its position in shares of Broadcom by 942.8% in the third quarter. MidWestOne Financial Group Inc. now owns 29,396 shares of the semiconductor manufacturer’s stock valued at $5,071,000 after acquiring an additional 26,577 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.3 %

Shares of Broadcom stock opened at $178.94 on Tuesday. The company has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The company’s 50 day moving average is $173.14 and its 200 day moving average is $163.05. Broadcom Inc. has a twelve month low of $95.61 and a twelve month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial boosted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.96.

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.