Polymer Capital Management HK LTD Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Polymer Capital Management HK LTD grew its position in Broadcom Inc. (NASDAQ:AVGO) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,600 shares of the semiconductor manufacturer’s stock after acquiring an additional 11,806 shares during the period. Broadcom comprises approximately 1.8% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 12th biggest position. Polymer Capital Management HK LTD’s holdings in Broadcom were worth $10,572,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC grew its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Sellwood Investment Partners LLC purchased a new stake in Broadcom in the 4th quarter worth $32,000. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 5.0 %

Shares of AVGO opened at $146.29 on Friday. The company’s 50-day moving average price is $201.57 and its 200 day moving average price is $196.19. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. 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 firm has a market cap of $687.85 billion, a P/E ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom 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 sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is currently owned by insiders.

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.