Virtu Financial LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Virtu Financial LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 81.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,514 shares of the semiconductor manufacturer's stock after acquiring an additional 30,299 shares during the period. Broadcom accounts for 0.8% of Virtu Financial LLC's portfolio, making the stock its 12th largest position. Virtu Financial LLC's holdings in Broadcom were worth $15,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Central Pacific Bank Trust Division raised its position 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 purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC increased its holdings in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Motive Wealth Advisors increased its holdings in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in 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 buying an additional 350,485 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the business's 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 completion of the transaction, the insider now owns 696,730 shares of the company's stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock worth $21,494,560 over the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 1.6 %

Shares of AVGO traded down $2.99 during midday trading on Tuesday, hitting $188.26. 23,379,840 shares of the stock were exchanged, compared to its average volume of 28,950,584. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a fifty day simple moving average of $213.70 and a 200 day simple moving average of $195.64. The firm has a market cap of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom Company 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.