Scientech Research LLC Sells 1,482 Shares of Broadcom Inc. (NASDAQ:AVGO)

Scientech Research LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,088 shares of the semiconductor manufacturer’s stock after selling 1,482 shares during the period. Broadcom comprises 0.6% of Scientech Research LLC’s investment portfolio, making the stock its 5th largest position. Scientech Research LLC’s holdings in Broadcom were worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares during the period. Wolff Financial Management LLC bought a new position in Broadcom in the 4th quarter valued at about $244,000. Motive Wealth Advisors boosted its position 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. Nebula Research & Development LLC boosted its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. lifted its stake in Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock valued at $14,061,000 after buying an additional 25,330 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 1.7%

NASDAQ AVGO opened at $228.61 on Friday. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04. The company’s 50 day moving average price is $187.08 and its 200 day moving average price is $199.25. 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 one year low of $128.50 and a one year high of $251.88.

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is 113.46%.

Analyst Ratings Changes

A number of equities analysts recently commented on AVGO shares. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Citigroup decreased their price target on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Barclays cut their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.