Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Alight Capital Management LP

Alight Capital Management LP cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the semiconductor manufacturer's stock after selling 5,000 shares during the quarter. Alight Capital Management LP's holdings in Broadcom were worth $3,478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in Broadcom during the fourth quarter worth about $244,000. Motive Wealth Advisors lifted its holdings in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Finally, Franchise Capital Ltd bought a new stake in Broadcom in the 4th quarter valued at $2,017,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO traded down $0.90 on Tuesday, reaching $199.82. The stock had a trading volume of 7,742,742 shares, compared to its average volume of 31,055,445. 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 twelve month low of $127.51 and a twelve month high of $251.88. The firm has a 50-day moving average of $181.97 and a 200 day moving average of $196.86. The firm has a market capitalization of $939.56 billion, a PE ratio of 163.11, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom announced that its board has approved a stock buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.18%. Broadcom's dividend payout ratio is presently 113.46%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated 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 of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 approximately $95,564,585.40. The trade was 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 valued at $131,065,542 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays decreased their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Bank of America reduced their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Benchmark reaffirmed a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $229.48.

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.