Broadcom Inc. (NASDAQ:AVGO) Shares Sold by LMR Partners LLP

LMR Partners LLP reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 64.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,602 shares of the semiconductor manufacturer's stock after selling 291,955 shares during the period. Broadcom makes up 0.3% of LMR Partners LLP's holdings, making the stock its 29th largest position. LMR Partners LLP's holdings in Broadcom were worth $36,538,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. LRT Capital Management LLC purchased a new position in Broadcom in the 4th quarter worth $1,059,000. Lighthouse Investment Partners LLC increased its holdings in shares of Broadcom by 88.2% in the fourth quarter. Lighthouse Investment Partners LLC now owns 7,529 shares of the semiconductor manufacturer's stock valued at $1,746,000 after purchasing an additional 3,529 shares during the period. Investment Management Corp of Ontario raised its stake in shares of Broadcom by 121.9% in the fourth quarter. Investment Management Corp of Ontario now owns 367,450 shares of the semiconductor manufacturer's stock worth $85,190,000 after purchasing an additional 201,838 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $3,669,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Broadcom by 198.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 365,692 shares of the semiconductor manufacturer's stock worth $84,782,000 after purchasing an additional 243,186 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Benchmark reiterated a "buy" rating and issued a $255.00 price target on shares of Broadcom in a 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 report on Friday, March 7th. Barclays reduced their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Up 0.2%

Shares of Broadcom stock opened at $208.26 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The company has a market capitalization of $979.23 billion, a P/E ratio of 169.87, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a 50 day moving average of $182.95 and a 200 day moving average of $197.68.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 1.13%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. 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.

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