Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 11,186,749 shares of the semiconductor manufacturer’s stock after selling 1,060,275 shares during the quarter. Broadcom accounts for approximately 2.1% of Clearbridge Investments LLC’s holdings, making the stock its 7th largest position. Clearbridge Investments LLC’s holdings in Broadcom were worth $2,593,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division boosted its stake in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC lifted its stake in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors grew its stake in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after buying an additional 350,485 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s 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 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 position. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $169.12 on Friday. The firm has a market cap of $795.19 billion, a P/E ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. The firm’s fifty day moving average is $209.48 and its 200 day moving average is $196.25. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a yield of 1.40%. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVGO shares. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” 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. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Company 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.