Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Mystic Asset Management Inc.

Mystic Asset Management Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,395 shares of the semiconductor manufacturer’s stock after purchasing an additional 330 shares during the period. Broadcom accounts for approximately 3.0% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 4th largest holding. Mystic Asset Management Inc.’s holdings in Broadcom were worth $11,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division boosted its stake in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new position in Broadcom in the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC boosted its stake in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after buying an additional 350,485 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. 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. Finally, Mizuho lowered their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $194.50 on Tuesday. The business’s 50-day simple moving average is $217.28 and its 200 day simple moving average is $194.43. The company has a market cap of $914.53 billion, a P/E ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’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 sale, the director now owns 46,400 shares of the company’s stock, 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 three months, insiders sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is currently owned by company insiders.

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.