Napean Trading & Investment Co Singapore PTE Ltd Has $18.08 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Napean Trading & Investment Co Singapore PTE Ltd decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,987 shares of the semiconductor manufacturer's stock after selling 36,398 shares during the period. Broadcom comprises about 4.5% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 8th biggest position. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Broadcom were worth $18,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the fourth quarter worth $33,000. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.6 %

Shares of NASDAQ AVGO traded down $2.99 during midday trading on Tuesday, hitting $188.26. The stock had a trading volume of 23,352,547 shares, compared to its average volume of 28,950,584. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market cap of $885.19 billion, a P/E ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The business's 50 day moving average is $213.70 and its 200-day moving average is $195.64. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued 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 payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVGO. 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. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Barclays upped 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Three equities research 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, Broadcom has an average rating of "Moderate Buy" and an average target price of $231.48.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $21,494,560 over the last ninety days. 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.