Vinva Investment Management Ltd Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Vinva Investment Management Ltd raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 222,742 shares of the semiconductor manufacturer’s stock after buying an additional 17,233 shares during the quarter. Broadcom accounts for 2.0% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 7th largest holding. Vinva Investment Management Ltd’s holdings in Broadcom were worth $52,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth about $26,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,738 shares of company stock valued at $43,395,200. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Broadcom stock opened at $188.67 on Wednesday. The business’s 50 day simple moving average is $216.48 and its 200 day simple moving average is $194.61. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market cap of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG 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.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Evercore ISI lifted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.