Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Front Row Advisors LLC

Front Row Advisors LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,109 shares of the semiconductor manufacturer’s stock after selling 1,186 shares during the period. Broadcom comprises 5.1% of Front Row Advisors LLC’s holdings, making the stock its 3rd biggest holding. Front Row Advisors LLC’s holdings in Broadcom were worth $14,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter worth about $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 1.0 %

AVGO opened at $167.43 on Tuesday. The firm has a 50-day simple moving average of $208.08 and a two-hundred day simple moving average of $196.54. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $787.25 billion, a PE ratio of 136.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued 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 1.41%. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 785,976 shares of company stock valued at $147,912,102. Insiders own 2.00% of the company’s stock.

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.