Broadcom Inc. (NASDAQ:AVGO) is Cypress Funds LLC’s 9th Largest Position

Cypress Funds LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 35.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 169,111 shares of the semiconductor manufacturer’s stock after selling 92,502 shares during the quarter. Broadcom accounts for 4.3% of Cypress Funds LLC’s investment portfolio, making the stock its 9th biggest holding. Cypress Funds LLC’s holdings in Broadcom were worth $39,207,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC grew its stake in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Quest Partners LLC raised its position in shares of Broadcom by 3,295.8% in the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after purchasing an additional 791 shares during the last quarter. Finally, Parnassus Investments LLC raised its position in shares of Broadcom by 936.9% in the 3rd quarter. Parnassus Investments LLC now owns 5,643,269 shares of the semiconductor manufacturer’s stock valued at $973,464,000 after purchasing an additional 5,098,999 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,168 shares of company stock valued at $40,508,877. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the stock 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 given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Up 0.6 %

Shares of Broadcom stock opened at $191.66 on Friday. 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 quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $901.18 billion, a P/E ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm has a 50-day simple moving average of $214.38 and a two-hundred day simple moving average of $195.08.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio is currently 113.46%.

Broadcom 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.