Excalibur Management Corp Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Excalibur Management Corp lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,407 shares of the semiconductor manufacturer’s stock after selling 60 shares during the period. Excalibur Management Corp’s holdings in Broadcom were worth $1,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $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 fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AVGO shares. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This 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 92,000 shares of company stock worth $21,494,560 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $188.26 on Wednesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $885.19 billion, a PE ratio of 153.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business’s fifty day moving average price is $212.97 and its 200 day moving average price is $196.00.

Broadcom Announces Dividend

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