GTS Securities LLC Sells 328,212 Shares of Broadcom Inc. (NASDAQ:AVGO)

GTS Securities LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 76.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,796 shares of the semiconductor manufacturer's stock after selling 328,212 shares during the period. Broadcom makes up approximately 1.2% of GTS Securities LLC's investment portfolio, making the stock its 9th largest holding. GTS Securities LLC's holdings in Broadcom were worth $23,832,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Wolff Financial Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $244,000. Motive Wealth Advisors lifted its position in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after buying an additional 4,209 shares in the last quarter. Nebula Research & Development LLC lifted its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. lifted its position in shares of Broadcom by 71.7% in the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock valued at $14,061,000 after acquiring an additional 25,330 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. KeyCorp raised their target price 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 reduced their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley boosted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the firm's 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 owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction 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 sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock traded up $6.60 during trading hours on Tuesday, reaching $235.32. 6,425,148 shares of the company were exchanged, compared to its average volume of 31,011,975. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The stock's fifty day moving average is $191.49 and its two-hundred day moving average is $201.86. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.00, a P/E/G ratio of 2.29 and a beta of 1.04. 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 Dividend Announcement

The firm also recently disclosed 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 1.00%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding 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 often an indication that the company's leadership believes its stock is undervalued.

About Broadcom

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.