Massachusetts Financial Services Co. MA Has $585.54 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Massachusetts Financial Services Co. MA increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 170.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,525,614 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,590,203 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Broadcom were worth $585,538,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after acquiring an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted its stake in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its holdings in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC increased its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC raised its holdings in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.1 %

NASDAQ AVGO opened at $172.09 on Thursday. The stock has a market capitalization of $809.16 billion, a P/E ratio of 140.37, a P/E/G ratio of 2.29 and a beta of 1.01. The business has a 50 day simple moving average of $205.27 and a 200 day simple moving average of $196.37. 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 Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.37%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 745,976 shares of company stock worth $138,632,902 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.