Waterloo Capital L.P. Cuts Stake in Broadcom Inc. (NASDAQ:AVGO)

Waterloo Capital L.P. decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,470 shares of the semiconductor manufacturer’s stock after selling 2,453 shares during the period. Broadcom comprises 1.1% of Waterloo Capital L.P.’s portfolio, making the stock its 22nd largest holding. Waterloo Capital L.P.’s holdings in Broadcom were worth $10,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC grew its holdings in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Redwood Investment Management LLC lifted its stake in shares of Broadcom by 319.2% in the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $647,000 after purchasing an additional 2,854 shares during the period. Wexford Capital LP boosted its holdings in Broadcom by 469.3% during the third quarter. Wexford Capital LP now owns 1,429 shares of the semiconductor manufacturer’s stock worth $247,000 after buying an additional 1,178 shares in the last quarter. Finally, United Services Automobile Association grew its position in Broadcom by 637.9% during the third quarter. United Services Automobile Association now owns 436,761 shares of the semiconductor manufacturer’s stock worth $75,341,000 after buying an additional 377,573 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 5.0 %

NASDAQ AVGO opened at $146.29 on Friday. The company has a 50-day moving average of $201.57 and a 200-day moving average of $196.19. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market cap of $687.85 billion, a P/E ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

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 paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock valued at $138,632,902 in the last ninety days. 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.