Foundry Partners LLC Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Foundry Partners LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 52.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,740 shares of the semiconductor manufacturer’s stock after selling 1,910 shares during the quarter. Foundry Partners LLC’s holdings in Broadcom were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AVGO. Howard Capital Management Group LLC lifted its position in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Redwood Investment Management LLC grew its position in Broadcom by 319.2% in the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock worth $647,000 after acquiring an additional 2,854 shares in the last quarter. Wexford Capital LP increased its stake in Broadcom by 469.3% in the third quarter. Wexford Capital LP now owns 1,429 shares of the semiconductor manufacturer’s stock valued at $247,000 after acquiring an additional 1,178 shares during the last quarter. Finally, United Services Automobile Association raised its position in Broadcom by 637.9% during the third quarter. United Services Automobile Association now owns 436,761 shares of the semiconductor manufacturer’s stock valued at $75,341,000 after purchasing an additional 377,573 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVGO shares. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Down 5.0 %

Shares of Broadcom stock opened at $146.29 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. The company has a 50-day moving average of $201.57 and a 200 day moving average of $196.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $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 have sold a total of 745,976 shares of company stock valued at $138,632,902 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.