Nan Shan Life Insurance Co. Ltd. Has $2.14 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Nan Shan Life Insurance Co. Ltd. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 84.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,248 shares of the semiconductor manufacturer's stock after selling 49,594 shares during the period. Nan Shan Life Insurance Co. Ltd.'s holdings in Broadcom were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC bought a new position in Broadcom in the 4th quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $232.42 on Wednesday. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 189.58, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 business's fifty day simple moving average is $184.61 and its 200 day simple moving average is $198.26. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

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

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. 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 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Company 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.

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