Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Mirabaud Asset Management Ltd

Mirabaud Asset Management Ltd lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,212 shares of the semiconductor manufacturer’s stock after selling 2,566 shares during the quarter. Broadcom comprises approximately 2.0% of Mirabaud Asset Management Ltd’s holdings, making the stock its 20th largest position. Mirabaud Asset Management Ltd’s holdings in Broadcom were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its position in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Redwood Investment Management LLC raised its stake in shares of Broadcom by 319.2% in the 3rd quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $647,000 after acquiring an additional 2,854 shares during the period. Quarry LP lifted its holdings in shares of Broadcom by 396.7% during the 3rd quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $183,000 after acquiring an additional 845 shares in the last quarter. Finally, Stansberry Asset Management LLC boosted its position in Broadcom by 828.6% during the 3rd quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock worth $381,000 after purchasing an additional 1,972 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 5.0 %

Shares of Broadcom stock opened at $146.29 on Friday. The stock has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business’s 50 day simple moving average is $201.57 and its 200-day simple moving average is $195.95.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 745,976 shares of company stock valued at $138,632,902. 2.00% of the stock is currently owned by company insiders.

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.