Oarsman Capital Inc. Has $6.23 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Oarsman Capital Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,883 shares of the semiconductor manufacturer’s stock after selling 1,585 shares during the period. Broadcom comprises approximately 1.1% of Oarsman Capital Inc.’s investment portfolio, making the stock its 21st biggest position. Oarsman Capital Inc.’s holdings in Broadcom were worth $6,233,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Howard Capital Management Group LLC lifted its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Redwood Investment Management LLC increased its holdings in shares of Broadcom by 319.2% during the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock worth $647,000 after buying an additional 2,854 shares in the last quarter. Quarry LP boosted its holdings in shares of Broadcom by 396.7% during the 3rd quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $183,000 after acquiring an additional 845 shares in the last quarter. Finally, Stansberry Asset Management LLC grew its position in Broadcom by 828.6% during the 3rd quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock worth $381,000 after acquiring an additional 1,972 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI increased their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 745,976 shares of company stock valued at $138,632,902 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 5.0 %

Broadcom stock opened at $146.29 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average price is $201.57 and its two-hundred day moving average price is $195.95. The firm has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.