Harvest Fund Management Co. Ltd Sells 2,737 Shares of Broadcom Inc. (NASDAQ:AVGO)

Harvest Fund Management Co. Ltd trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 398,022 shares of the semiconductor manufacturer’s stock after selling 2,737 shares during the period. Broadcom comprises about 4.3% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 5th largest holding. Harvest Fund Management Co. Ltd’s holdings in Broadcom were worth $92,381,000 at the end of the most recent reporting period.

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

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction 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 directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,738 shares of company stock valued at $43,395,200. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 3.0 %

Shares of NASDAQ AVGO opened at $188.67 on Wednesday. The firm has a market cap of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The business’s 50 day moving average is $216.48 and its two-hundred day moving average is $194.61.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen boosted their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. KeyCorp boosted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.