Broadcom Inc. (NASDAQ:AVGO) Position Increased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 344.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 280,000 shares of the semiconductor manufacturer's stock after purchasing an additional 217,000 shares during the quarter. Broadcom comprises 0.7% of Polar Asset Management Partners Inc.'s portfolio, making the stock its 23rd largest position. Polar Asset Management Partners Inc.'s holdings in Broadcom were worth $64,915,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. grew 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 valued at $120,070,000 after purchasing an additional 18,845 shares during the period. Wolff Financial Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $244,000. Motive Wealth Advisors grew its stake 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 buying an additional 4,209 shares during the period. Nebula Research & Development LLC grew its stake in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares during the period. Finally, TTP Investments Inc. grew its stake in Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after buying an additional 25,330 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.6%

AVGO traded up $3.78 during trading on Wednesday, hitting $239.43. The company had a trading volume of 20,233,215 shares, compared to its average volume of 31,012,388. The company has a market cap of $1.13 trillion, a PE ratio of 195.30, a P/E/G ratio of 2.29 and a beta of 1.04. The business has a 50-day moving average of $192.39 and a 200-day moving average of $202.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The business 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 0.99%. Broadcom's dividend payout ratio is presently 113.46%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction 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. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp boosted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Citigroup decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.15.

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.