Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cynosure Group LLC

Cynosure Group LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 46.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,210 shares of the semiconductor manufacturer’s stock after selling 1,920 shares during the quarter. Cynosure Group LLC’s holdings in Broadcom were worth $512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the 4th quarter worth $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $172.09 on Thursday. The stock has a market capitalization of $809.16 billion, a P/E ratio of 140.37, a P/E/G ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average of $205.27 and a two-hundred day moving average of $196.37. 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. Broadcom’s payout ratio is currently 113.46%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVGO. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Benchmark restated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Susquehanna increased their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 745,976 shares of company stock worth $138,632,902 over the last 90 days. Insiders own 2.00% of the company’s stock.

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.