Taika Capital LP Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Taika Capital LP decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 57.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,299 shares of the semiconductor manufacturer’s stock after selling 16,756 shares during the quarter. Broadcom makes up approximately 2.2% of Taika Capital LP’s portfolio, making the stock its 16th largest holding. Taika Capital LP’s holdings in Broadcom were worth $2,851,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. SLT Holdings LLC acquired a new position in Broadcom during the fourth quarter worth approximately $2,781,000. Sound View Wealth Advisors Group LLC increased its holdings in shares of Broadcom by 5.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 52,588 shares of the semiconductor manufacturer’s stock valued at $12,192,000 after acquiring an additional 2,727 shares during the period. Ceera Investments LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $218,000. Pettee Investors Inc. raised its position in Broadcom by 11.1% in the 4th quarter. Pettee Investors Inc. now owns 3,010 shares of the semiconductor manufacturer’s stock valued at $698,000 after purchasing an additional 300 shares during the last quarter. Finally, Argentarii LLC acquired a new stake in Broadcom during the 4th quarter worth $5,419,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 8.6 %

Broadcom stock opened at $194.96 on Monday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock’s fifty day moving average is $222.28 and its two-hundred day moving average is $193.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 191.87%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday. Piper Sandler upped their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.48.

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.