Broadcom Inc. (NASDAQ:AVGO) is GW&K Investment Management LLC’s 9th Largest Position

GW&K Investment Management LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 496,564 shares of the semiconductor manufacturer’s stock after selling 11,065 shares during the quarter. Broadcom makes up approximately 1.0% of GW&K Investment Management LLC’s portfolio, making the stock its 9th biggest position. GW&K Investment Management LLC’s holdings in Broadcom were worth $115,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Argyle Capital Management LLC increased its holdings in shares of Broadcom by 3.7% in the fourth quarter. Argyle Capital Management LLC now owns 5,358 shares of the semiconductor manufacturer’s stock valued at $1,242,000 after purchasing an additional 190 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Broadcom by 2.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 17,698 shares of the semiconductor manufacturer’s stock valued at $4,103,000 after purchasing an additional 367 shares during the period. Hilltop Partners LLC increased its holdings in shares of Broadcom by 4.0% in the fourth quarter. Hilltop Partners LLC now owns 12,529 shares of the semiconductor manufacturer’s stock valued at $2,905,000 after purchasing an additional 480 shares during the period. Verus Capital Partners LLC increased its holdings in shares of Broadcom by 2.5% in the fourth quarter. Verus Capital Partners LLC now owns 6,540 shares of the semiconductor manufacturer’s stock valued at $1,516,000 after purchasing an additional 160 shares during the period. Finally, Fusion Capital LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $231,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVGO. TD Cowen boosted their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird upped their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 0.8 %

Shares of NASDAQ:AVGO opened at $199.29 on Friday. 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 Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock’s fifty day simple moving average is $227.44 and its 200-day simple moving average is $191.86. The company has a market capitalization of $934.16 billion, a P/E ratio of 162.56, a P/E/G ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.18%. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.