792,792 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 792,792 shares of the semiconductor manufacturer’s stock, valued at approximately $183,801,000. Broadcom comprises 4.0% of GF Fund Management CO. LTD.’s holdings, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC boosted its stake in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the last quarter. Marest Capital LLC boosted its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares during the last quarter. Register Financial Advisors LLC boosted its stake in shares of Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $856,000 after purchasing an additional 47 shares during the last quarter. Finally, SlateStone Wealth LLC boosted its stake in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the sale, the director now owns 26,182 shares of the company’s stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AVGO shares. Truist Financial increased their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Citigroup lowered their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Trading Down 0.8%

Shares of NASDAQ:AVGO opened at $228.72 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The company has a market capitalization of $1.08 trillion, a PE ratio of 186.56, a PEG ratio of 2.29 and a beta of 1.04. The business has a 50 day moving average of $190.82 and a two-hundred day moving average of $201.27. 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 declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was 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.