Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Krane Funds Advisors LLC

Krane Funds Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,578 shares of the semiconductor manufacturer’s stock after buying an additional 166 shares during the period. Krane Funds Advisors LLC’s holdings in Broadcom were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Elgethun Capital Management boosted its holdings in shares of Broadcom by 6.1% in the fourth quarter. Elgethun Capital Management now owns 3,980 shares of the semiconductor manufacturer’s stock valued at $923,000 after acquiring an additional 230 shares in the last quarter. Twin Capital Management Inc. lifted its position in Broadcom by 2.0% in the fourth quarter. Twin Capital Management Inc. now owns 105,021 shares of the semiconductor manufacturer’s stock worth $24,348,000 after purchasing an additional 2,027 shares during the period. Employees Retirement System of Texas boosted its stake in Broadcom by 2.1% during the 4th quarter. Employees Retirement System of Texas now owns 945,949 shares of the semiconductor manufacturer’s stock valued at $219,309,000 after purchasing an additional 19,080 shares in the last quarter. Bell Asset Management Ltd acquired a new position in shares of Broadcom during the 4th quarter valued at $8,947,000. Finally, Concentrum Wealth Management raised its stake in shares of Broadcom by 13.4% in the 4th quarter. Concentrum Wealth Management now owns 3,463 shares of the semiconductor manufacturer’s stock worth $803,000 after buying an additional 408 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 697,976 shares of company stock valued at $127,336,102 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 5.0 %

AVGO opened at $146.29 on Monday. The company has a market capitalization of $687.85 billion, a PE ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The business has a 50-day moving average of $201.57 and a 200-day moving average of $196.43. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 Announces Dividend

The firm 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 of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.