Kirr Marbach & Co. LLC IN Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kirr Marbach & Co. LLC IN reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,843 shares of the semiconductor manufacturer’s stock after selling 236 shares during the quarter. Broadcom accounts for about 6.4% of Kirr Marbach & Co. LLC IN’s investment portfolio, making the stock its largest holding. Kirr Marbach & Co. LLC IN’s holdings in Broadcom were worth $24,382,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Cantor Fitzgerald Investment Advisor L.P boosted its position in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after purchasing an additional 36,458 shares in the last quarter. Fairfield Bush & CO. boosted its position in shares of Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after buying an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in Broadcom during the first quarter valued at $1,095,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald lifted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,281.09.

Broadcom Price Performance

AVGO traded up $12.38 during trading on Tuesday, reaching $1,323.07. 468,302 shares of the company traded hands, compared to its average volume of 2,940,933. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The firm has a fifty day simple moving average of $1,304.36 and a 200 day simple moving average of $1,110.50. The company has a market cap of $613.14 billion, a P/E ratio of 48.76, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the firm posted $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom 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.