Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Gordian Capital Singapore Pte Ltd

Gordian Capital Singapore Pte Ltd lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 96.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 155 shares of the semiconductor manufacturer’s stock after selling 4,856 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Broadcom were worth $36,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth $32,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVGO. Citigroup lowered their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Price Performance

Shares of AVGO opened at $229.73 on Thursday. The business’s 50-day moving average is $189.30 and its 200-day moving average is $200.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 187.38, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88.

Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom’s payout ratio is 113.46%.

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.