Palogic Value Management L.P. Has $12.18 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Palogic Value Management L.P. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,535 shares of the semiconductor manufacturer's stock after selling 2,195 shares during the period. Broadcom accounts for about 0.3% of Palogic Value Management L.P.'s portfolio, making the stock its 3rd largest holding. Palogic Value Management L.P.'s holdings in Broadcom were worth $12,180,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Anchor Pointe Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $494,000. Capstone Triton Financial Group LLC raised its position in shares of Broadcom by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 5,873 shares of the semiconductor manufacturer's stock valued at $1,362,000 after buying an additional 87 shares in the last quarter. Mattson Financial Services LLC raised its position in shares of Broadcom by 1,110.8% in the 4th quarter. Mattson Financial Services LLC now owns 17,460 shares of the semiconductor manufacturer's stock valued at $4,048,000 after buying an additional 16,018 shares in the last quarter. Copia Wealth Management acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $194,000. Finally, IronOak Wealth LLC. acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $3,035,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.0%

NASDAQ AVGO traded down $2.47 on Friday, hitting $239.50. 27,045,094 shares of the company were exchanged, compared to its average volume of 31,042,485. The company has a market cap of $1.13 trillion, a PE ratio of 195.35, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The stock has a fifty day moving average of $195.38 and a 200-day moving average of $203.23. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom declared that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. Citigroup dropped their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday. They set a "buy" rating and a $301.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $238.77.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

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.