Broadcom Inc. (NASDAQ:AVGO) is Goldstream Capital Management Ltd's 6th Largest Position

Goldstream Capital Management Ltd decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,895 shares of the semiconductor manufacturer's stock after selling 11,955 shares during the quarter. Broadcom makes up 5.4% of Goldstream Capital Management Ltd's portfolio, making the stock its 6th largest position. Goldstream Capital Management Ltd's holdings in Broadcom were worth $19,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last three months. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America reduced their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Benchmark restated a "buy" rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $11.24 during trading on Thursday, reaching $188.15. 27,491,846 shares of the company traded hands, compared to its average volume of 31,276,073. Broadcom Inc. has a 12-month low of $122.33 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $884.67 billion, a P/E ratio of 153.47, a PEG ratio of 2.29 and a beta of 1.05. The firm's fifty day simple moving average is $185.99 and its 200 day simple moving average is $195.85.

Broadcom declared that its board has initiated a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued 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 was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 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.