Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,971 shares of the semiconductor manufacturer's stock after selling 21,531 shares during the period. Broadcom makes up 2.4% of Melqart Asset Management UK Ltd's holdings, making the stock its 13th biggest position. Melqart Asset Management UK Ltd's holdings in Broadcom were worth $19,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth about $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the fourth quarter worth about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom in the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Citigroup lowered their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Rosenblatt Securities restated a "buy" rating and set 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Performance

NASDAQ AVGO traded up $1.30 on Wednesday, reaching $192.47. 22,166,072 shares of the stock were exchanged, compared to its average volume of 31,557,039. The firm has a market capitalization of $904.98 billion, a PE ratio of 156.99, a PEG ratio of 2.29 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company's 50-day simple moving average is $182.92 and its two-hundred day simple moving average is $196.21. Broadcom Inc. has a one year low of $122.33 and a one year high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.23%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In other Broadcom news, 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 transaction, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 719,776 shares of company stock worth $131,065,542. 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.