Stevens Capital Management LP lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,966 shares of the semiconductor manufacturer's stock after selling 5,972 shares during the quarter. Broadcom accounts for 1.5% of Stevens Capital Management LP's investment portfolio, making the stock its 5th largest position. Stevens Capital Management LP's holdings in Broadcom were worth $3,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $26,000. JDM Financial Group LLC increased its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Price Performance
Shares of NASDAQ AVGO traded down $0.81 during trading on Tuesday, hitting $190.44. The company had a trading volume of 6,974,461 shares, compared to its average volume of 30,357,842. The business's 50-day moving average is $213.70 and its 200 day moving average is $195.64. The company has a market cap of $895.44 billion, a P/E ratio of 155.26, a PEG ratio of 2.29 and a beta of 1.01. 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 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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom's dividend payout ratio is currently 113.46%.
Insider Activity at Broadcom
In other news, Director Check Kian Low sold 48,000 shares of the firm's 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was 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 in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock valued at $21,494,560. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research 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 stock. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $231.48.
Get Our Latest Stock Analysis on Broadcom
About Broadcom
(
Free Report)
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.
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