Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Numerai GP LLC

Numerai GP LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 82.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,051 shares of the semiconductor manufacturer's stock after buying an additional 1,381 shares during the quarter. Numerai GP LLC's holdings in Broadcom were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP lifted its stake in shares of Broadcom by 406.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 25,045 shares of the semiconductor manufacturer's stock valued at $5,806,000 after purchasing an additional 20,103 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Broadcom by 1.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,251,794 shares of the semiconductor manufacturer's stock valued at $290,216,000 after purchasing an additional 14,265 shares during the last quarter. Meridiem Capital Partners LP acquired a new stake in shares of Broadcom in the 4th quarter valued at $31,504,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $122,000. Finally, Morse Asset Management Inc lifted its stake in shares of Broadcom by 0.7% in the 4th quarter. Morse Asset Management Inc now owns 66,347 shares of the semiconductor manufacturer's stock valued at $15,382,000 after purchasing an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. Bank of America reduced their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Barclays reduced their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Citigroup dropped their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $232.12 on Thursday. 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 firm has a fifty day simple moving average of $185.35 and a 200 day simple moving average of $198.49. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 189.33, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The company also recently declared 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 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.

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