Vinva Investment Management Ltd Has $52.47 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Vinva Investment Management Ltd increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 222,742 shares of the semiconductor manufacturer’s stock after acquiring an additional 17,233 shares during the period. Broadcom makes up approximately 2.0% of Vinva Investment Management Ltd’s holdings, 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. KFA Private Wealth Group LLC raised its position in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA raised its holdings in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its position in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after acquiring an additional 45 shares during the last quarter. Marest Capital LLC grew its holdings in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its position in shares of Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 46,400 shares in the company, 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. Insiders sold 184,738 shares of company stock worth $43,395,200 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 3.0 %

Shares of Broadcom stock opened at $188.67 on Wednesday. The company’s fifty day simple moving average is $216.48 and its two-hundred 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 current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $887.12 billion, a P/E ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVGO. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.