Cynosure Group LLC Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Cynosure Group LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 46.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,210 shares of the semiconductor manufacturer’s stock after selling 1,920 shares during the period. Cynosure Group LLC’s holdings in Broadcom were worth $512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank grew its stake in shares of Broadcom by 2.7% in the fourth quarter. Huntington National Bank now owns 1,084,742 shares of the semiconductor manufacturer’s stock valued at $251,487,000 after buying an additional 28,223 shares in the last quarter. Private Portfolio Partners LLC raised its stake in shares of Broadcom by 8.1% during the fourth quarter. Private Portfolio Partners LLC now owns 5,864 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after purchasing an additional 437 shares during the period. Kesler Norman & Wride LLC lifted its position in shares of Broadcom by 1.1% during the fourth quarter. Kesler Norman & Wride LLC now owns 34,203 shares of the semiconductor manufacturer’s stock worth $7,930,000 after purchasing an additional 358 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Broadcom by 170.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,525,614 shares of the semiconductor manufacturer’s stock valued at $585,538,000 after purchasing an additional 1,590,203 shares during the period. Finally, RFG Bristol Wealth Advisors LLC acquired a new stake in Broadcom during the 4th quarter valued at $4,956,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 745,976 shares of company stock worth $138,632,902 in the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 2.1 %

Broadcom stock opened at $172.09 on Thursday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $809.16 billion, a price-to-earnings ratio of 140.37, a PEG ratio of 2.29 and a beta of 1.01. The firm has a 50-day moving average price of $205.27 and a two-hundred day moving average price of $196.37.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three research 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, the stock currently has an average rating of “Moderate Buy” and an average target price 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.