Arrowstreet Capital Limited Partnership Has $132.82 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 166.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 572,906 shares of the semiconductor manufacturer’s stock after buying an additional 358,170 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Broadcom were worth $132,823,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVGO. 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. JDM Financial Group LLC grew its stake in shares of 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 buying an additional 172 shares during the period. Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Jefferies Financial Group raised their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was 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 owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 785,976 shares of company stock valued at $147,912,102. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7 %

Shares of AVGO opened at $169.12 on Monday. The firm has a market cap of $795.19 billion, a P/E ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business has a 50-day moving average of $209.48 and a 200 day moving average of $196.51.

Broadcom Dividend Announcement

The firm 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

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.