Goldstream Capital Management Ltd Sells 11,955 Shares of Broadcom Inc. (NASDAQ:AVGO)

Goldstream Capital Management Ltd decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.6% in the fourth quarter, HoldingsChannel reports. The firm owned 82,895 shares of the semiconductor manufacturer’s stock after selling 11,955 shares during the quarter. Broadcom accounts for 5.4% of Goldstream Capital Management Ltd’s portfolio, making the stock its 6th biggest position. Goldstream Capital Management Ltd’s holdings in Broadcom were worth $19,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AVGO. Central Pacific Bank Trust Division grew its holdings in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $244,000. Motive Wealth Advisors grew its stake 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 period. Tidal Investments LLC increased 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 valued at $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new position in shares of Broadcom in the 4th quarter valued at $2,017,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.1 %

AVGO stock opened at $170.99 on Monday. The firm’s 50 day moving average price is $189.84 and its 200-day moving average price is $196.24. 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 firm has a market cap of $803.99 billion, a PE ratio of 139.47, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a one year low of $120.05 and a one year high of $251.88.

Broadcom announced that its board has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 719,776 shares of company stock worth $131,065,542. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Citigroup dropped their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.28.

Broadcom Company 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.