Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by Korea Investment CORP

Korea Investment CORP lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,391,629 shares of the semiconductor manufacturer’s stock after selling 238,335 shares during the period. Broadcom makes up approximately 1.9% of Korea Investment CORP’s portfolio, making the stock its 8th largest position. Korea Investment CORP’s holdings in Broadcom were worth $786,315,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVGO. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Morgan Stanley boosted their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $27,334,060 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 4.8 %

Broadcom stock opened at $179.27 on Thursday. The stock’s 50 day moving average price is $211.99 and its 200 day moving average price is $195.88. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market cap of $842.92 billion, a PE ratio of 146.22, a price-to-earnings-growth 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.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.32%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.