Shaker Investments LLC OH Has $9.64 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Shaker Investments LLC OH lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,584 shares of the semiconductor manufacturer’s stock after selling 11,353 shares during the period. Broadcom accounts for 4.0% of Shaker Investments LLC OH’s investment portfolio, making the stock its 3rd largest position. Shaker Investments LLC OH’s holdings in Broadcom were worth $9,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UNICOM Systems Inc. bought a new stake in Broadcom during the 4th quarter valued at $63,524,000. Balentine LLC grew its position in shares of Broadcom by 5.9% in the fourth quarter. Balentine LLC now owns 3,482 shares of the semiconductor manufacturer’s stock valued at $807,000 after purchasing an additional 195 shares in the last quarter. New Republic Capital LLC lifted its holdings in Broadcom by 9.4% during the 4th quarter. New Republic Capital LLC now owns 8,556 shares of the semiconductor manufacturer’s stock worth $1,984,000 after purchasing an additional 737 shares in the last quarter. Collier Financial purchased a new stake in Broadcom during the 4th quarter worth about $90,000. Finally, JSF Financial LLC grew its holdings in Broadcom by 18.9% during the 4th quarter. JSF Financial LLC now owns 8,346 shares of the semiconductor manufacturer’s stock valued at $1,935,000 after buying an additional 1,325 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $233.04 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 $1.09 trillion, a P/E ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average of $225.09 and a 200-day moving average of $186.45.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is owned by company insiders.

About Broadcom

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.