Financial Insights Inc. Has $645,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Financial Insights Inc. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 72.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the semiconductor manufacturer’s stock after selling 7,455 shares during the period. Financial Insights Inc.’s holdings in Broadcom were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. KFA Private Wealth Group LLC raised its stake in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares during the period. Bryant Woods Investment Advisors LLC increased its holdings in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC lifted its stake in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares during the last quarter. Register Financial Advisors LLC raised its stake in Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $856,000 after acquiring an additional 47 shares during the period. Finally, SlateStone Wealth LLC raised its position in shares of Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on AVGO shares. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Three research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Trading Down 0.8%

Shares of NASDAQ:AVGO opened at $228.72 on Tuesday. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12-month low of $128.50 and a 12-month 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 fifty day moving average of $191.49 and a two-hundred day moving average of $201.86.

Broadcom Announces Dividend

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

Broadcom announced that its board has authorized a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company’s stock.

About Broadcom

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.