Schonfeld Strategic Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 366.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,468 shares of the semiconductor manufacturer's stock after acquiring an additional 250,953 shares during the period. Broadcom accounts for approximately 0.4% of Schonfeld Strategic Advisors LLC's investment portfolio, making the stock its 19th biggest holding. Schonfeld Strategic Advisors LLC's holdings in Broadcom were worth $74,065,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Franklin Resources Inc. increased its position in shares of Broadcom by 1,114.6% in the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer's stock valued at $3,849,270,000 after buying an additional 19,375,547 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. GQG Partners LLC increased its position in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after buying an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 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 buying an additional 6,573,204 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AVGO has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Finally, Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $229.48.
View Our Latest Analysis on Broadcom
Broadcom Price Performance
NASDAQ AVGO traded up $1.30 during trading hours on Wednesday, reaching $192.47. The company's stock had a trading volume of 22,283,051 shares, compared to its average volume of 31,263,255. The stock has a market cap of $904.98 billion, a PE ratio of 156.99, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88. The company's 50-day moving average is $182.40 and its two-hundred day moving average is $196.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued 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 (DPR) is presently 113.46%.
Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock worth $131,065,542. Insiders own 2.00% of the company's stock.
Broadcom Company Profile
(
Free Report)
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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