Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Ardsley Advisory Partners LP

Ardsley Advisory Partners LP lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,000 shares of the semiconductor manufacturer's stock after selling 56,500 shares during the period. Ardsley Advisory Partners LP's holdings in Broadcom were worth $6,492,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC increased its stake in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after purchasing an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA increased its stake in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC raised its holdings in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC boosted its stake in shares of Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after acquiring an additional 46 shares during the period. Finally, Defined Wealth Management LLC grew its position in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.3 %

AVGO stock traded down $0.63 on Tuesday, hitting $200.09. 15,440,857 shares of the company's stock were exchanged, compared to its average volume of 31,085,374. The firm has a 50 day moving average price of $181.97 and a two-hundred day moving average price of $196.86. Broadcom Inc. has a 12-month low of $127.51 and a 12-month high of $251.88. The stock has a market cap of $940.81 billion, a P/E ratio of 163.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on AVGO shares. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America dropped their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three 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's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were 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 owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by corporate insiders.

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.