Siemens Fonds Invest GmbH Sells 14,964 Shares of Broadcom Inc. (NASDAQ:AVGO)

Siemens Fonds Invest GmbH trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,802 shares of the semiconductor manufacturer's stock after selling 14,964 shares during the quarter. Broadcom accounts for 1.4% of Siemens Fonds Invest GmbH's holdings, making the stock its 14th biggest holding. Siemens Fonds Invest GmbH's holdings in Broadcom were worth $35,526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Park Square Financial Group LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $2,106,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth $1,913,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Broadcom during the 4th quarter worth $873,383,000. Brooklyn FI LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $3,561,000. Finally, Employees Retirement System of Texas grew its holdings in shares of Broadcom by 2.1% during the 4th quarter. Employees Retirement System of Texas now owns 945,949 shares of the semiconductor manufacturer's stock worth $219,309,000 after purchasing an additional 19,080 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Susquehanna raised their price objective on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research note on Thursday. Citigroup reduced their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Benchmark reaffirmed a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho raised their price objective on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday. Three investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $236.27.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred 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 owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 1.1%

Shares of AVGO traded up $2.54 during mid-day trading on Thursday, reaching $241.97. 20,708,690 shares of the company were exchanged, compared to its average volume of 31,004,283. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. 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 has a market capitalization of $1.14 trillion, a PE ratio of 197.37, a PEG ratio of 2.29 and a beta of 1.04. The business has a 50 day simple moving average of $193.34 and a two-hundred day simple moving average of $202.36.

Broadcom Dividend Announcement

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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. Broadcom's payout ratio is currently 113.46%.

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

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.