Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by SeaTown Holdings Pte. Ltd.

SeaTown Holdings Pte. Ltd. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,208 shares of the semiconductor manufacturer's stock after selling 25,140 shares during the period. Broadcom accounts for about 3.5% of SeaTown Holdings Pte. Ltd.'s investment portfolio, making the stock its 14th largest position. SeaTown Holdings Pte. Ltd.'s holdings in Broadcom were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. NCP Inc. lifted its position in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after buying an additional 400 shares in the last quarter. Harmony Asset Management LLC increased its holdings in Broadcom by 9.5% in the 2nd quarter. Harmony Asset Management LLC now owns 944 shares of the semiconductor manufacturer's stock valued at $1,515,000 after purchasing an additional 82 shares in the last quarter. Beck Capital Management LLC raised its holdings in shares of Broadcom by 1.7% during the 2nd quarter. Beck Capital Management LLC now owns 4,340 shares of the semiconductor manufacturer's stock valued at $6,968,000 after buying an additional 72 shares during the period. Public Sector Pension Investment Board lifted its position in Broadcom by 36.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 242,040 shares of the semiconductor manufacturer's stock worth $388,602,000 after acquiring an additional 64,876 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Broadcom by 2.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,093 shares of the semiconductor manufacturer's stock worth $9,783,000 after acquiring an additional 123 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Hsbc Global Res raised Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Finally, Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $225.83.

Broadcom Stock Performance

Shares of Broadcom stock traded up $2.87 during trading on Tuesday, hitting $240.31. 30,766,885 shares of the stock were exchanged, compared to its average volume of 25,676,523. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The stock's fifty day moving average is $203.18 and its 200 day moving average is $178.65. The stock has a market cap of $1.13 trillion, a PE ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom's dividend payout ratio is presently 192.50%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, 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 a total of 191,278 shares of company stock worth $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom 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.