1,901 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Sciencast Management LP

Sciencast Management LP bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,901 shares of the semiconductor manufacturer’s stock, valued at approximately $441,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new position in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the fourth quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new position in Broadcom during the fourth quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new position in Broadcom during the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Truist Financial increased their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock valued at $40,508,877 in the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 0.6 %

AVGO opened at $191.66 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a fifty day moving average price of $214.38 and a 200 day moving average price of $195.08.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 1.23%. 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.