Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Bancreek Capital Management LP

Bancreek Capital Management LP lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,505 shares of the semiconductor manufacturer's stock after selling 15,119 shares during the period. Broadcom comprises about 8.3% of Bancreek Capital Management LP's portfolio, making the stock its 2nd largest holding. Bancreek Capital Management LP's holdings in Broadcom were worth $8,463,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $149,000. Mindset Wealth Management LLC grew its stake in Broadcom by 3.5% in the 4th quarter. Mindset Wealth Management LLC now owns 10,972 shares of the semiconductor manufacturer's stock valued at $2,544,000 after acquiring an additional 374 shares during the period. Wealth Advisors of Iowa LLC increased its holdings in Broadcom by 33.6% in the 4th quarter. Wealth Advisors of Iowa LLC now owns 1,550 shares of the semiconductor manufacturer's stock worth $359,000 after acquiring an additional 390 shares in the last quarter. MRP Capital Investments LLC raised its position in Broadcom by 97.2% during the fourth quarter. MRP Capital Investments LLC now owns 355 shares of the semiconductor manufacturer's stock worth $82,000 after acquiring an additional 175 shares during the period. Finally, 1620 Investment Advisors Inc. raised its position in Broadcom by 7.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 4,204 shares of the semiconductor manufacturer's stock worth $975,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

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Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Benchmark reissued a "buy" rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Truist Financial increased their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $231.48.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company's stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 1.6 %

Shares of NASDAQ AVGO traded down $2.99 during mid-day trading on Tuesday, reaching $188.26. 23,379,840 shares of the company's stock were exchanged, compared to its average volume of 28,950,584. The company's 50-day moving average is $213.70 and its 200-day moving average is $195.64. 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 has a market capitalization of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's dividend payout ratio 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.