Insight Holdings Group LLC Sells 15,690 Shares of Broadcom Inc. (NASDAQ:AVGO)

Insight Holdings Group LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,710 shares of the semiconductor manufacturer's stock after selling 15,690 shares during the quarter. Broadcom comprises approximately 0.3% of Insight Holdings Group LLC's portfolio, making the stock its 19th biggest position. Insight Holdings Group LLC's holdings in Broadcom were worth $4,801,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the period. Geode Capital Management LLC raised its stake in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after buying an additional 3,018,294 shares during the last quarter. FMR LLC raised its stake in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new position in shares of Broadcom during the 4th quarter worth $16,893,010,000. Finally, Price T Rowe Associates Inc. MD increased its position in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

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 transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.7 %

Broadcom stock traded up $1.30 during trading hours on Wednesday, hitting $192.47. The company had a trading volume of 22,283,051 shares, compared to its average volume of 31,263,255. The firm has a market capitalization of $904.98 billion, a P/E ratio of 156.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm's fifty day moving average is $182.92 and its 200-day moving average is $196.21. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88.

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Barclays dropped their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Mizuho reduced their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. KeyCorp boosted their target price on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $229.48.

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.