Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,434,260 shares of the semiconductor manufacturer's stock after selling 2,130,100 shares during the period. Two Sigma Advisers LP's holdings in Broadcom were worth $332,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Broadcom by 3.8% during 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 buying an additional 18,845 shares during the period. Wolff Financial Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $244,000. Motive Wealth Advisors grew its position in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares during the period. Nebula Research & Development LLC grew its position in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares during the period. Finally, TTP Investments Inc. increased its stake in 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 purchasing an additional 25,330 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. KeyCorp boosted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Bank of America decreased their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Up 0.5%

Shares of NASDAQ AVGO traded up $1.05 during trading on Tuesday, reaching $231.68. 11,749,421 shares of the stock were exchanged, compared to its average volume of 31,130,408. The business's 50-day moving average price is $188.62 and its 200 day moving average price is $200.27. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 188.97, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom 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 completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The shares were 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 in the company, valued at $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by insiders.

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.