Broadcom Inc. (NASDAQ:AVGO) is Guggenheim Capital LLC’s 5th Largest Position

Guggenheim Capital LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,246,783 shares of the semiconductor manufacturer’s stock after selling 442,127 shares during the quarter. Broadcom makes up about 2.3% of Guggenheim Capital LLC’s portfolio, making the stock its 5th biggest position. Guggenheim Capital LLC’s holdings in Broadcom were worth $289,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC boosted its holdings in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank bought a new position in Broadcom in the fourth quarter worth approximately $16,893,010,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Broadcom by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock worth $7,606,291,000 after purchasing an additional 810,907 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $178.36 on Tuesday. The stock has a 50-day moving average of $194.45 and a two-hundred day moving average of $196.15. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $838.64 billion, a P/E ratio of 145.48, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business’s 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 completion of the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. 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 research report on Friday, March 7th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Three 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 company presently has an average rating of “Moderate Buy” and an average price target of $231.68.

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.