Osterweis Capital Management Inc. Has $43.87 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Osterweis Capital Management Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,226 shares of the semiconductor manufacturer’s stock after acquiring an additional 345 shares during the quarter. Broadcom accounts for about 2.0% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Osterweis Capital Management Inc.’s holdings in Broadcom were worth $43,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Greenwood Gearhart Inc. lifted its position in Broadcom by 4.9% during the fourth quarter. Greenwood Gearhart Inc. now owns 45,356 shares of the semiconductor manufacturer’s stock valued at $10,515,000 after purchasing an additional 2,110 shares during the last quarter. MSH Capital Advisors LLC bought a new stake in shares of Broadcom during the 4th quarter worth $553,000. Garden State Investment Advisory Services LLC grew its position in Broadcom by 9.3% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 3,976 shares of the semiconductor manufacturer’s stock worth $924,000 after acquiring an additional 338 shares in the last quarter. NewEdge Advisors LLC increased its stake in Broadcom by 4.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,004,411 shares of the semiconductor manufacturer’s stock valued at $232,862,000 after acquiring an additional 46,637 shares during the last quarter. Finally, Everest Management Corp. purchased a new stake in Broadcom during the fourth quarter valued at about $1,855,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 2.4 %

NASDAQ:AVGO opened at $174.61 on Thursday. The company has a 50-day moving average price of $192.40 and a 200-day moving average price of $195.88. The stock has a market cap of $821.01 billion, a price-to-earnings ratio of 142.42, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.35%. Broadcom’s payout ratio is 113.46%.

Broadcom announced that its Board of Directors has approved a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Citigroup reduced their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.28.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 719,776 shares of company stock worth $131,065,542. Company insiders own 2.00% of the company’s stock.

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.