Fullerton Fund Management Co Ltd. Has $46.73 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Fullerton Fund Management Co Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,574 shares of the semiconductor manufacturer’s stock after purchasing an additional 63,203 shares during the period. Broadcom accounts for approximately 1.6% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 18th biggest position. Fullerton Fund Management Co Ltd.’s holdings in Broadcom were worth $46,733,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ethic Inc. increased its stake in shares of Broadcom by 1,138.6% during the 4th quarter. Ethic Inc. now owns 319,030 shares of the semiconductor manufacturer’s stock worth $73,964,000 after purchasing an additional 293,272 shares during the last quarter. Circle Wealth Management LLC lifted its position in shares of Broadcom by 30.9% in the fourth quarter. Circle Wealth Management LLC now owns 19,410 shares of the semiconductor manufacturer’s stock worth $4,500,000 after buying an additional 4,587 shares during the last quarter. Clear Street Derivatives LLC boosted its stake in shares of Broadcom by 342.2% during the 4th quarter. Clear Street Derivatives LLC now owns 107,900 shares of the semiconductor manufacturer’s stock worth $25,016,000 after acquiring an additional 83,500 shares in the last quarter. Dimension Capital Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at about $313,000. Finally, Dunhill Financial LLC raised its stake in shares of Broadcom by 30.8% in the 4th quarter. Dunhill Financial LLC now owns 1,182 shares of the semiconductor manufacturer’s stock valued at $274,000 after acquiring an additional 278 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 0.2 %

Shares of AVGO opened at $208.26 on Friday. The business’s 50 day simple moving average is $182.95 and its 200-day simple moving average is $197.33. 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 Inc. has a one year low of $128.50 and a one year high of $251.88. The company has a market capitalization of $979.23 billion, a P/E ratio of 169.87, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.13%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business’s 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 completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.