Unisphere Establishment Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Unisphere Establishment decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 841,200 shares of the semiconductor manufacturer's stock after selling 8,500 shares during the period. Broadcom makes up approximately 1.7% of Unisphere Establishment's investment portfolio, making the stock its 17th biggest position. Unisphere Establishment's holdings in Broadcom were worth $195,024,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Headland Capital LLC purchased a new position in Broadcom in the 4th quarter worth about $243,000. Rehmann Capital Advisory Group increased its position in shares of Broadcom by 4.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 17,577 shares of the semiconductor manufacturer's stock worth $4,075,000 after acquiring an additional 806 shares during the period. Wick Capital Partners LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $679,000. WealthCollab LLC grew its stake in Broadcom by 14.6% in the fourth quarter. WealthCollab LLC now owns 763 shares of the semiconductor manufacturer's stock worth $177,000 after purchasing an additional 97 shares in the last quarter. Finally, Bridgewealth Advisory Group LLC purchased a new position in Broadcom during the 4th quarter worth $313,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVGO. Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America lowered their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Morgan Stanley upped their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO traded up $6.31 during midday trading on Friday, hitting $203.64. 17,749,359 shares of the company were exchanged, compared to its average volume of 31,215,620. The company's 50 day simple moving average is $182.21 and its 200 day simple moving average is $196.61. The firm has a market capitalization of $957.50 billion, a price-to-earnings ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1-year low of $127.51 and a 1-year high of $251.88. 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 business 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. This represents a $2.36 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

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

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.