Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Napean Trading & Investment Co Singapore PTE Ltd

Napean Trading & Investment Co Singapore PTE Ltd lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 31.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 77,987 shares of the semiconductor manufacturer’s stock after selling 36,398 shares during the quarter. Broadcom comprises about 4.5% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 8th largest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Broadcom were worth $18,081,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC grew its stake in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC raised its position in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 962.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer’s stock worth $5,519,591,000 after purchasing an additional 28,985,434 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Check Kian Low sold 48,000 shares of the company’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 completion of the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,168 shares of company stock worth $37,108,677 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 0.6 %

Shares of AVGO stock opened at $191.66 on Monday. The firm has a market cap of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. The firm’s 50-day simple moving average is $214.38 and its 200-day simple moving average is $195.37. Broadcom Inc. has a 1-year low of $119.76 and a 1-year 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

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.