Krane Funds Advisors LLC Has $366,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Krane Funds Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,578 shares of the semiconductor manufacturer’s stock after acquiring an additional 166 shares during the quarter. Krane Funds Advisors LLC’s holdings in Broadcom were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $16,893,010,000. Franklin Resources Inc. grew its position in Broadcom by 1,114.6% in the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock valued at $3,849,270,000 after acquiring an additional 19,375,547 shares during the period. GQG Partners LLC increased its position in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 5.0 %

Broadcom stock opened at $146.29 on Monday. The company has a 50 day moving average of $201.57 and a 200-day moving average of $196.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market capitalization of $687.85 billion, a PE ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

Insiders Place Their Bets

In other news, 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 transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 697,976 shares of company stock worth $127,336,102. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.