Broadcom Inc. (NASDAQ:AVGO) is Cypress Funds LLC's 9th Largest Position

Cypress Funds LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,111 shares of the semiconductor manufacturer's stock after selling 92,502 shares during the quarter. Broadcom makes up 4.3% of Cypress Funds LLC's investment portfolio, making the stock its 9th biggest holding. Cypress Funds LLC's holdings in Broadcom were worth $39,207,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in Broadcom during the 4th quarter worth $353,204,000. Knights of Columbus Asset Advisors LLC increased its position in shares of Broadcom by 1.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 80,674 shares of the semiconductor manufacturer's stock worth $18,704,000 after purchasing an additional 862 shares in the last quarter. Marietta Investment Partners LLC lifted its holdings in shares of Broadcom by 2.2% in the 4th quarter. Marietta Investment Partners LLC now owns 24,948 shares of the semiconductor manufacturer's stock valued at $5,784,000 after purchasing an additional 538 shares during the last quarter. Umpqua Bank acquired a new stake in shares of Broadcom in the 4th quarter valued at about $369,000. Finally, Intellus Advisors LLC purchased a new position in Broadcom during the 4th quarter worth approximately $13,093,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVGO. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Evercore ISI raised their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $231.48.

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Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $26,606,317.50. This trade represents 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 worth $21,494,560 in the last three months. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded down $2.99 during mid-day trading on Tuesday, hitting $188.26. The stock had a trading volume of 23,379,840 shares, compared to its average volume of 28,955,880. The company has a 50 day simple moving average of $212.97 and a 200 day simple moving average of $196.00. 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 company has a market cap of $885.19 billion, a price-to-earnings ratio of 153.56, a P/E/G 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

About Broadcom

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.