Martin Worley Group Acquires Shares of 1,171 Broadcom Inc. (NASDAQ:AVGO)

Martin Worley Group purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,171 shares of the semiconductor manufacturer’s stock, valued at approximately $271,000.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the period. Norges Bank bought a new position in Broadcom during the 4th quarter worth approximately $16,893,010,000. Franklin Resources Inc. boosted its position in Broadcom by 1,114.6% during the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock valued at $3,849,270,000 after acquiring an additional 19,375,547 shares during the last quarter. Finally, GQG Partners LLC boosted its position in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value 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 approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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 of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 745,976 shares of company stock worth $138,632,902 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Susquehanna upped 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. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $172.09 on Thursday. The firm has a market cap of $809.16 billion, a PE ratio of 140.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50 day simple moving average is $205.27 and its 200-day simple moving average is $196.37. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.