Cavalier Investments LLC Has $541,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Cavalier Investments LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 95.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,334 shares of the semiconductor manufacturer’s stock after selling 49,244 shares during the quarter. Cavalier Investments LLC’s holdings in Broadcom were worth $541,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. State Street Corp raised its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC raised its stake in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC lifted its position in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on AVGO. Evercore ISI raised their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Performance

Shares of Broadcom stock opened at $212.94 on Thursday. The stock has a market cap of $998.13 billion, a price-to-earnings ratio of 173.69, a P/E/G ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company’s fifty day moving average is $228.28 and its 200 day moving average is $191.46. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating 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 quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 191.87%.

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.