Primecap Management Co. CA Purchases 7,245 Shares of Broadcom Inc. (NASDAQ:AVGO)

Primecap Management Co. CA grew its position in Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 957,880 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,245 shares during the quarter. Primecap Management Co. CA’s holdings in Broadcom were worth $222,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AVGO. Tocqueville Asset Management L.P. increased its position in shares of Broadcom by 2.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 152,366 shares of the semiconductor manufacturer’s stock valued at $35,325,000 after purchasing an additional 3,592 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Broadcom by 202.9% during the 4th quarter. William Blair Investment Management LLC now owns 647,615 shares of the semiconductor manufacturer’s stock valued at $150,143,000 after purchasing an additional 433,787 shares during the last quarter. Arrien Investments Inc. bought a new position in shares of Broadcom during the 4th quarter valued at approximately $231,000. Cassady Schiller Wealth Management LLC increased its position in shares of Broadcom by 25.3% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 1,165 shares of the semiconductor manufacturer’s stock valued at $270,000 after purchasing an additional 235 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Broadcom by 1.4% during the 4th quarter. Signaturefd LLC now owns 80,111 shares of the semiconductor manufacturer’s stock valued at $18,573,000 after purchasing an additional 1,134 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 113,050 shares in the company, valued at $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 sold 184,738 shares of company stock worth $43,395,200 in the last three months. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Morgan Stanley boosted 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. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 0.5 %

Shares of NASDAQ AVGO opened at $194.50 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $914.53 billion, a P/E ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a fifty day moving average price of $217.28 and a 200 day moving average price of $194.43.

Broadcom Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) 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.