Nan Shan Life Insurance Co. Ltd. Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Nan Shan Life Insurance Co. Ltd. cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 84.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Nearwater Capital Markets Ltd acquired a new stake in shares of Broadcom in the 4th quarter valued at about $322,836,000. NorthRock Partners LLC lifted its position in Broadcom by 121.8% in the 4th quarter. NorthRock Partners LLC now owns 49,024 shares of the semiconductor manufacturer's stock valued at $11,366,000 after acquiring an additional 26,926 shares in the last quarter. Northwest Quadrant Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at about $304,000. Numerai GP LLC lifted its position in Broadcom by 82.7% in the 4th quarter. Numerai GP LLC now owns 3,051 shares of the semiconductor manufacturer's stock valued at $707,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Occudo Quantitative Strategies LP lifted its position in Broadcom by 406.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 25,045 shares of the semiconductor manufacturer's stock valued at $5,806,000 after acquiring an additional 20,103 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Citigroup dropped their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Mizuho dropped their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Performance

Broadcom stock traded down $4.03 during mid-day trading on Friday, reaching $228.61. The company's stock had a trading volume of 22,996,350 shares, compared to its average volume of 31,255,540. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The company has a market capitalization of $1.07 trillion, a P/E ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm's fifty day moving average price is $187.08 and its two-hundred day moving average price is $199.41.

Broadcom declared that its Board of Directors has authorized a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.03%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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.