Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 630,994 shares of the semiconductor manufacturer's stock after selling 32,976 shares during the period. Broadcom comprises approximately 0.5% of Cambridge Investment Research Advisors Inc.'s holdings, making the stock its 25th largest holding. Cambridge Investment Research Advisors Inc.'s holdings in Broadcom were worth $146,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advantage Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at $245,000. Capitolis Liquid Global Markets LLC lifted its holdings in shares of Broadcom by 8.6% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 2,154,100 shares of the semiconductor manufacturer's stock valued at $499,407,000 after purchasing an additional 170,000 shares in the last quarter. Blue Capital Inc. acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $814,000. Brevan Howard Capital Management LP bought a new stake in Broadcom during the 4th quarter worth approximately $16,256,000. Finally, Bulltick Wealth Management LLC raised its holdings in Broadcom by 19.8% during the 4th quarter. Bulltick Wealth Management LLC now owns 9,251 shares of the semiconductor manufacturer's stock worth $2,145,000 after buying an additional 1,531 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVGO. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. 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, Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $2.96 during midday trading on Thursday, reaching $207.77. 18,425,941 shares of the company were exchanged, compared to its average volume of 31,196,704. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $976.92 billion, a PE ratio of 169.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The business's fifty day moving average is $182.12 and its two-hundred day moving average is $196.94. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly 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 Broadcom stock in a transaction 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. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock valued at $131,065,542 over the last ninety days. 2.00% of the stock is owned by insiders.

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.