Broadcom Inc. (NASDAQ:AVGO) is Harvard Management Co. Inc.’s 7th Largest Position

Harvard Management Co. Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,700 shares of the semiconductor manufacturer’s stock after selling 144,800 shares during the quarter. Broadcom makes up approximately 5.1% of Harvard Management Co. Inc.’s portfolio, making the stock its 7th biggest position. Harvard Management Co. Inc.’s holdings in Broadcom were worth $86,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other 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 transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 719,776 shares of company stock worth $131,065,542. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Broadcom Trading Up 0.1 %

Shares of NASDAQ AVGO opened at $192.47 on Tuesday. The firm’s 50 day moving average price is $183.64 and its 200-day moving average price is $196.24. The company has a market cap of $904.98 billion, a PE ratio of 156.99, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 52-week low of $122.33 and a 52-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.

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

Broadcom Dividend Announcement

The company 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 was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is presently 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.