Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 61.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 558,883 shares of the semiconductor manufacturer’s stock after acquiring an additional 213,785 shares during the quarter. Broadcom accounts for 3.9% of Intech Investment Management LLC’s holdings, making the stock its 6th largest position. Intech Investment Management LLC’s holdings in Broadcom were worth $129,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Asset Management SPA SGR acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $53,287,000. Evoke Wealth LLC boosted its holdings in Broadcom by 56.3% in the fourth quarter. Evoke Wealth LLC now owns 22,081 shares of the semiconductor manufacturer’s stock valued at $5,119,000 after acquiring an additional 7,955 shares during the last quarter. Horizon Investments LLC boosted its holdings in Broadcom by 42.7% in the fourth quarter. Horizon Investments LLC now owns 108,314 shares of the semiconductor manufacturer’s stock valued at $25,112,000 after acquiring an additional 32,412 shares during the last quarter. Carlson Capital Management boosted its holdings in Broadcom by 6.5% in the fourth quarter. Carlson Capital Management now owns 7,433 shares of the semiconductor manufacturer’s stock valued at $1,723,000 after acquiring an additional 451 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Broadcom by 30.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,684,427 shares of the semiconductor manufacturer’s stock valued at $388,515,000 after acquiring an additional 395,521 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AVGO shares. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Down 0.5 %

Shares of Broadcom stock opened at $194.50 on Tuesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $914.53 billion, a PE ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01. The stock has a fifty day moving average price of $217.28 and a 200-day moving average price of $194.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is owned by company insiders.

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.