Broadcom Inc. (NASDAQ:AVGO) Stake Decreased by Jackson Square Capital LLC

Jackson Square Capital LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,269 shares of the semiconductor manufacturer’s stock after selling 806 shares during the period. Broadcom makes up 5.7% of Jackson Square Capital LLC’s portfolio, making the stock its 3rd largest holding. Jackson Square Capital LLC’s holdings in Broadcom were worth $23,478,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Krilogy Financial LLC boosted its stake in shares of Broadcom by 2.4% during the fourth quarter. Krilogy Financial LLC now owns 16,517 shares of the semiconductor manufacturer’s stock valued at $3,829,000 after purchasing an additional 383 shares during the period. Hanseatic Management Services Inc. grew its stake in Broadcom by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 504 shares of the semiconductor manufacturer’s stock worth $117,000 after acquiring an additional 54 shares in the last quarter. Ameritas Advisory Services LLC increased its position in shares of Broadcom by 132.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 50,032 shares of the semiconductor manufacturer’s stock worth $11,599,000 after acquiring an additional 28,474 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Broadcom by 14.5% in the fourth quarter. HB Wealth Management LLC now owns 141,235 shares of the semiconductor manufacturer’s stock valued at $32,759,000 after purchasing an additional 17,903 shares during the period. Finally, Financial & Tax Architects LLC grew its stake in Broadcom by 10.6% in the fourth quarter. Financial & Tax Architects LLC now owns 9,280 shares of the semiconductor manufacturer’s stock worth $2,151,000 after purchasing an additional 892 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Truist Financial boosted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.83.

Broadcom Stock Up 3.5 %

AVGO opened at $237.44 on Monday. 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 twelve month low of $112.19 and a twelve month high of $251.88. The company has a market cap of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a 50-day moving average price of $202.01 and a 200 day moving average price of $178.14.

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

Broadcom Increases Dividend

The business also recently disclosed 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. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.