Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 71.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,589 shares of the semiconductor manufacturer’s stock after selling 33,483 shares during the quarter. Himension Capital Singapore PTE. LTD.’s holdings in Broadcom were worth $3,150,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the period. Norges Bank acquired a new stake in Broadcom during the fourth quarter worth about $16,893,010,000. Franklin Resources Inc. raised its holdings in shares of Broadcom by 1,114.6% in the 3rd quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock worth $3,849,270,000 after purchasing an additional 19,375,547 shares during the period. GQG Partners LLC lifted its stake in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.4% during the 4th 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 period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AVGO shares. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

AVGO stock opened at $146.29 on Friday. The stock’s 50 day simple moving average is $201.57 and its 200 day simple moving average is $196.19. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm has a market cap of $687.85 billion, a P/E ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 1.61%. Broadcom’s payout ratio is currently 113.46%.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 745,976 shares of company stock valued at $138,632,902. Company insiders own 2.00% of the company’s stock.

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.