Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Wulff Hansen & CO.

Wulff Hansen & CO. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,855 shares of the semiconductor manufacturer’s stock after selling 135 shares during the quarter. Wulff Hansen & CO.’s holdings in Broadcom were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vinva Investment Management Ltd grew its holdings in shares of Broadcom by 8.4% in the 4th quarter. Vinva Investment Management Ltd now owns 222,742 shares of the semiconductor manufacturer’s stock worth $52,474,000 after acquiring an additional 17,233 shares during the last quarter. Stokes Family Office LLC grew its holdings in shares of Broadcom by 1.0% in the 4th quarter. Stokes Family Office LLC now owns 14,830 shares of the semiconductor manufacturer’s stock worth $3,438,000 after acquiring an additional 150 shares during the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of Broadcom by 35.9% in the 4th quarter. Platinum Investment Management Ltd. now owns 527,301 shares of the semiconductor manufacturer’s stock worth $122,249,000 after acquiring an additional 139,433 shares during the last quarter. West Tower Group LLC boosted its position in shares of Broadcom by 42.9% in the fourth quarter. West Tower Group LLC now owns 1,000 shares of the semiconductor manufacturer’s stock worth $232,000 after buying an additional 300 shares during the period. Finally, Saiph Capital LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $285,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,738 shares of company stock worth $43,395,200. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 3.0 %

Broadcom stock opened at $188.67 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business’s 50-day simple moving average is $216.48 and its 200-day simple moving average is $194.61. The firm has a market capitalization of $887.12 billion, a PE ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom’s payout ratio is presently 113.46%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.