Himension Capital Singapore PTE. LTD. Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

Himension Capital Singapore PTE. LTD. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,589 shares of the semiconductor manufacturer's stock after selling 33,483 shares during the period. Himension Capital Singapore PTE. LTD.'s holdings in Broadcom were worth $3,150,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division increased its stake in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after acquiring an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC lifted its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the period. Finally, Tidal Investments LLC increased its stake in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, 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 transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm'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 transaction, the director now directly 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on AVGO. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a report on Friday, December 13th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Price Performance

Shares of AVGO stock traded up $3.31 on Wednesday, reaching $159.34. The company had a trading volume of 14,238,760 shares, compared to its average volume of 30,925,502. The stock has a market capitalization of $749.21 billion, a PE ratio of 129.68, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. 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 business's 50-day moving average is $198.58 and its 200 day moving average is $195.95. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 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.