OV Management LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

OV Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,443 shares of the semiconductor manufacturer’s stock after buying an additional 751 shares during the period. Broadcom comprises 1.4% of OV Management LLC’s investment portfolio, making the stock its 16th largest holding. OV Management LLC’s holdings in Broadcom were worth $3,117,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $26,000. JDM Financial Group LLC raised its holdings in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $32,000. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business’s 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 approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 785,976 shares of company stock valued at $147,912,102 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 1.0 %

Shares of NASDAQ AVGO opened at $167.43 on Tuesday. The firm’s 50-day moving average is $208.08 and its two-hundred day moving average is $196.54. The company has a market capitalization of $787.25 billion, a PE ratio of 136.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.41%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

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.