Temasek Holdings Private Ltd Has $684.38 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Temasek Holdings Private Ltd lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,951,931 shares of the semiconductor manufacturer’s stock after selling 25,797 shares during the quarter. Broadcom accounts for about 2.7% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 13th largest position. Temasek Holdings Private Ltd’s holdings in Broadcom were worth $684,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $244,000. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Nebula Research & Development LLC increased its position in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. lifted its stake in Broadcom by 71.7% in the 4th quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock valued at $14,061,000 after purchasing an additional 25,330 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Bank of America lowered their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Trading Down 1.7%

AVGO opened at $228.61 on Friday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a fifty day moving average of $187.08 and a 200-day moving average of $199.41. The stock has a market cap of $1.07 trillion, a PE ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom declared that its board has initiated a share repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.03%. Broadcom’s payout ratio is currently 113.46%.

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.