L & S Advisors Inc Has $15.67 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

L & S Advisors Inc trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 84.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,575 shares of the semiconductor manufacturer’s stock after selling 367,256 shares during the period. Broadcom makes up approximately 1.7% of L & S Advisors Inc’s holdings, making the stock its 9th largest holding. L & S Advisors Inc’s holdings in Broadcom were worth $15,667,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVGO. PARUS FINANCE UK Ltd bought a new position in shares of Broadcom in the fourth quarter valued at approximately $8,471,000. MV Capital Management Inc. raised its holdings in shares of Broadcom by 5.5% in the fourth quarter. MV Capital Management Inc. now owns 3,010 shares of the semiconductor manufacturer’s stock valued at $698,000 after buying an additional 157 shares during the last quarter. BlueChip Wealth Advisors LLC bought a new stake in Broadcom during the 4th quarter worth about $234,000. Okabena Investment Services Inc. bought a new position in shares of Broadcom in the 4th quarter worth $200,000. Finally, Allianz SE acquired a new position in Broadcom during the fourth quarter valued at approximately $41,945,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 1.7 %

Shares of AVGO stock opened at $169.12 on Friday. The stock has a 50-day moving average of $209.48 and a 200-day moving average of $195.91. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market cap of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the 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. Insiders sold 785,976 shares of company stock valued at $147,912,102 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.