Sterling Capital Management LLC Purchases 12,917 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sterling Capital Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,888 shares of the semiconductor manufacturer's stock after acquiring an additional 12,917 shares during the quarter. Sterling Capital Management LLC's holdings in Broadcom were worth $44,951,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Howard Capital Management Group LLC boosted its stake in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Broadcom in the 3rd quarter valued at about $972,000. Invst LLC grew its stake in shares of Broadcom by 928.6% in the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock valued at $522,000 after buying an additional 2,730 shares during the period. Finally, McIlrath & Eck LLC increased its position in Broadcom by 793.3% in the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after buying an additional 357 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho reduced their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Barclays raised their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup dropped their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.68.

Broadcom Stock Performance

Broadcom stock traded down $3.58 during trading on Monday, hitting $178.36. The stock had a trading volume of 25,312,472 shares, compared to its average volume of 31,342,019. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock's 50 day moving average is $195.52 and its two-hundred day moving average is $196.11. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market cap of $838.64 billion, a price-to-earnings ratio of 145.48, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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.