Pacer Advisors Inc. Has $137.56 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Pacer Advisors Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,324 shares of the semiconductor manufacturer's stock after selling 79,601 shares during the period. Pacer Advisors Inc.'s holdings in Broadcom were worth $137,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Center For Asset Management LLC grew its holdings in Broadcom by 1.0% in the fourth quarter. Center For Asset Management LLC now owns 12,156 shares of the semiconductor manufacturer's stock valued at $2,818,000 after purchasing an additional 115 shares during the period. United Asset Strategies Inc. boosted its holdings in Broadcom by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 16,119 shares of the semiconductor manufacturer's stock valued at $3,737,000 after acquiring an additional 223 shares during the last quarter. waypoint wealth counsel grew its position in Broadcom by 4.4% during the fourth quarter. waypoint wealth counsel now owns 3,916 shares of the semiconductor manufacturer's stock valued at $908,000 after acquiring an additional 165 shares during the period. KBC Group NV increased its stake in Broadcom by 34.6% during the fourth quarter. KBC Group NV now owns 3,465,337 shares of the semiconductor manufacturer's stock worth $803,403,000 after acquiring an additional 890,437 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Broadcom in the 4th quarter worth about $71,312,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVGO shares. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research report on Friday, December 13th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $225.04.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of Broadcom stock traded up $9.19 on Thursday, reaching $215.54. 33,237,580 shares of the company were exchanged, compared to its average volume of 30,880,648. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of 176.79, a P/E/G ratio of 2.52 and a beta of 1.03. 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 company's 50-day moving average is $211.24 and its two-hundred day moving average is $181.27.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the business posted $0.98 earnings per share. The firm's quarterly revenue was up 51.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.09%. Broadcom's payout ratio is currently 192.50%.

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.