Broadcom Inc. (NASDAQ:AVGO) Position Trimmed by Unisphere Establishment

Unisphere Establishment trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 841,200 shares of the semiconductor manufacturer’s stock after selling 8,500 shares during the quarter. Broadcom makes up 1.7% of Unisphere Establishment’s holdings, making the stock its 17th largest holding. Unisphere Establishment’s holdings in Broadcom were worth $195,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AVGO. Vanguard Group Inc. boosted its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Geode Capital Management LLC grew its stake in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC increased its holdings in shares of Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank purchased a new position in Broadcom during the fourth quarter valued at approximately $16,893,010,000. Finally, Northern Trust Corp increased its stake in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after buying an additional 5,258,925 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s 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 completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. 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 company’s stock in a transaction on Wednesday, March 26th. The shares were 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 approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Price Performance

Shares of Broadcom stock opened at $191.17 on Wednesday. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. The firm has a market cap of $898.87 billion, a P/E ratio of 155.93, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The firm’s 50-day simple moving average is $182.92 and its 200-day simple moving average is $196.21. 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 declared that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.