Berkshire Capital Holdings Inc. Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Berkshire Capital Holdings Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 71,810 shares of the semiconductor manufacturer’s stock after buying an additional 4,440 shares during the quarter. Broadcom makes up 6.0% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 5th biggest position. Berkshire Capital Holdings Inc.’s holdings in Broadcom were worth $16,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the company. KFA Private Wealth Group LLC increased its stake in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA increased its stake in Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC increased its holdings in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its holdings in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $195.57 on Thursday. The firm’s 50-day moving average price is $215.81 and its 200-day moving average price is $194.61. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $919.56 billion, a P/E ratio of 159.52, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

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

Insider Activity

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,738 shares of company stock worth $43,395,200. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVGO. Robert W. Baird upped their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating 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 company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Company 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.