Analog Century Management LP Has $96.78 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Analog Century Management LP cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 417,426 shares of the semiconductor manufacturer's stock after selling 21,265 shares during the period. Broadcom comprises 6.5% of Analog Century Management LP's portfolio, making the stock its 3rd largest holding. Analog Century Management LP's holdings in Broadcom were worth $96,776,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $32,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 4.3 %

Shares of NASDAQ AVGO opened at $176.88 on Thursday. Broadcom Inc. has a 1-year low of $122.33 and a 1-year high of $251.88. The business has a fifty day moving average price of $185.99 and a 200 day moving average price of $195.85. The stock has a market capitalization of $831.69 billion, a P/E ratio of 144.28, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

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

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. KeyCorp upped their price target 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. Morgan Stanley lifted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

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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