52,604 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Science & Technology Partners L.P.

Science & Technology Partners L.P. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 52,604 shares of the semiconductor manufacturer's stock, valued at approximately $12,196,000. Broadcom makes up about 3.7% of Science & Technology Partners L.P.'s holdings, making the stock its 15th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Voya Investment Management LLC raised its stake in Broadcom by 4.6% during the 4th quarter. Voya Investment Management LLC now owns 11,032,868 shares of the semiconductor manufacturer's stock valued at $2,557,339,000 after purchasing an additional 481,498 shares during the period. Integrated Wealth Concepts LLC grew its stake in Broadcom by 15.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 136,136 shares of the semiconductor manufacturer's stock valued at $31,562,000 after acquiring an additional 18,475 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Broadcom by 0.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,249,360 shares of the semiconductor manufacturer's stock worth $985,172,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred 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 sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % 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 valued at $131,065,542 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $176.88 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $831.69 billion, a PE ratio of 144.28, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The firm has a fifty day moving average price of $185.99 and a two-hundred day moving average price of $195.85. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88.

Broadcom announced that its board has authorized a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is 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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVGO shares. 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. 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 note on Wednesday, April 16th. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $229.48.

About Broadcom

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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