Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,671,361 shares of the semiconductor manufacturer's stock after selling 310,946 shares during the quarter. Broadcom comprises approximately 0.8% of Sei Investments Co.'s portfolio, making the stock its 14th biggest position. Sei Investments Co. owned approximately 0.06% of Broadcom worth $619,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division boosted its holdings in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after buying an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $244,000. Strait & Sound Wealth Management LLC boosted its stake in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

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Broadcom Price Performance

Shares of NASDAQ AVGO traded down $2.99 during trading on Tuesday, hitting $188.26. 23,379,840 shares of the company were exchanged, compared to its average volume of 28,950,584. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a market cap of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The firm's fifty day moving average price is $213.70 and its 200 day moving average price is $195.64.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In related news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company's stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a 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. Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Finally, William Blair reissued an "outperform" rating 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $231.48.

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.