Gardner Lewis Asset Management L P Has $4.34 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Gardner Lewis Asset Management L P lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,720 shares of the semiconductor manufacturer’s stock after selling 830 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in Broadcom were worth $4,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. DnB Asset Management AS grew its holdings in shares of Broadcom by 2.9% during the 4th quarter. DnB Asset Management AS now owns 1,174,780 shares of the semiconductor manufacturer’s stock worth $272,361,000 after purchasing an additional 33,127 shares in the last quarter. Level Four Advisory Services LLC lifted its position in Broadcom by 5.4% during the fourth quarter. Level Four Advisory Services LLC now owns 126,332 shares of the semiconductor manufacturer’s stock worth $29,289,000 after purchasing an additional 6,436 shares during the period. Vertex Planning Partners LLC grew its stake in Broadcom by 40.0% during the fourth quarter. Vertex Planning Partners LLC now owns 1,663 shares of the semiconductor manufacturer’s stock worth $386,000 after buying an additional 475 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Broadcom by 7.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 210,857 shares of the semiconductor manufacturer’s stock valued at $48,885,000 after buying an additional 14,825 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Broadcom by 1.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,161,744 shares of the semiconductor manufacturer’s stock valued at $1,196,699,000 after buying an additional 88,314 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVGO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Robert W. Baird increased their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Down 4.1 %

Shares of Broadcom stock opened at $171.99 on Friday. The firm has a market cap of $808.69 billion, a price-to-earnings ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01. The stock’s 50-day moving average is $210.84 and its 200 day moving average is $195.72. 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 $119.76 and a one year high of $251.88.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $27,334,060 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.