Parametrica Management Ltd Has $1.27 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Parametrica Management Ltd reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 24.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,486 shares of the semiconductor manufacturer’s stock after selling 1,814 shares during the quarter. Broadcom comprises about 1.7% of Parametrica Management Ltd’s portfolio, making the stock its 16th biggest position. Parametrica Management Ltd’s holdings in Broadcom were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter worth about $33,000. Pin Oak Investment Advisors Inc. raised its holdings 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 acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s 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 completion of the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $21,494,560 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on AVGO shares. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price target 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. Bank of America upped 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Jefferies Financial Group lifted their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $188.26 on Wednesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a 50-day moving average of $212.97 and a 200-day moving average of $196.00. 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 company has a market cap of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given 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 1.25%. Broadcom’s dividend payout ratio is presently 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.