Jacobs Levy Equity Management Inc. Has $84.78 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Jacobs Levy Equity Management Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 198.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,692 shares of the semiconductor manufacturer's stock after buying an additional 243,186 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Broadcom were worth $84,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AVGO shares. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Benchmark reiterated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.48.

Insiders Place Their Bets

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

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $7.42 during midday trading on Tuesday, hitting $229.00. The company's stock had a trading volume of 6,877,718 shares, compared to its average volume of 31,145,818. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock's 50 day simple moving average is $183.55 and its 200 day simple moving average is $198.02. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 186.79, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

About Broadcom

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.