Virtu Financial LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Virtu Financial LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 81.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 67,514 shares of the semiconductor manufacturer’s stock after buying an additional 30,299 shares during the quarter. Broadcom comprises about 0.8% of Virtu Financial LLC’s holdings, making the stock its 12th largest position. Virtu Financial LLC’s holdings in Broadcom were worth $15,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. increased its stake 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 during the period. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 0.6 %

Broadcom stock opened at $191.66 on Friday. The company has a market cap of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. The firm’s 50-day moving average is $214.38 and its 200-day moving average is $194.79. Broadcom Inc. has a 1 year low of $119.76 and a 1 year 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.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio is presently 113.46%.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,168 shares of company stock worth $40,508,877 in the last ninety days. 2.00% of the stock is 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.