Teachers Retirement System of The State of Kentucky Has $209.79 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Teachers Retirement System of The State of Kentucky decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 904,891 shares of the semiconductor manufacturer's stock after selling 53,799 shares during the period. Broadcom makes up about 1.8% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 6th largest position. Teachers Retirement System of The State of Kentucky's holdings in Broadcom were worth $209,790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Tower Research Capital LLC TRC raised its holdings in shares of Broadcom by 95.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 389,011 shares of the semiconductor manufacturer's stock valued at $90,188,000 after buying an additional 189,511 shares during the period. Transatlantique Private Wealth LLC boosted its stake in shares of Broadcom by 1.4% in the fourth quarter. Transatlantique Private Wealth LLC now owns 12,698 shares of the semiconductor manufacturer's stock valued at $2,944,000 after purchasing an additional 174 shares during the period. Transce3nd LLC acquired a new stake in Broadcom during the 4th quarter valued at $1,204,000. Seaview Investment Managers LLC lifted its holdings in Broadcom by 5.0% in the 4th quarter. Seaview Investment Managers LLC now owns 59,383 shares of the semiconductor manufacturer's stock worth $13,767,000 after buying an additional 2,816 shares in the last quarter. Finally, Sharpepoint LLC purchased a new position in Broadcom in the 4th quarter valued at about $1,978,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO traded up $11.06 on Thursday, reaching $187.97. The company's stock had a trading volume of 14,573,179 shares, compared to its average volume of 31,227,591. Broadcom Inc. has a 52 week low of $122.33 and a 52 week high of $251.88. The firm has a market cap of $883.83 billion, a PE ratio of 153.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The business has a 50-day moving average price of $185.99 and a 200 day moving average price of $195.85. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Truist Financial increased their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. KeyCorp boosted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last three months. Insiders own 2.00% of the company's stock.

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.