Doheny Asset Management CA Has $4.43 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Doheny Asset Management CA cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,971 shares of the semiconductor manufacturer’s stock after selling 250 shares during the period. Broadcom accounts for 4.3% of Doheny Asset Management CA’s holdings, making the stock its 4th largest position. Doheny Asset Management CA’s holdings in Broadcom were worth $4,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. SRS Capital Advisors Inc. grew its stake in shares of Broadcom by 10.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,048 shares of the semiconductor manufacturer’s stock worth $1,170,000 after purchasing an additional 99 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Broadcom by 2.6% in the 4th quarter. Natixis Advisors L.P. now owns 180,121 shares of the semiconductor manufacturer’s stock worth $201,060,000 after buying an additional 4,572 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Broadcom by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 102,408 shares of the semiconductor manufacturer’s stock worth $114,314,000 after acquiring an additional 2,787 shares during the period. Finally, Swiss National Bank increased its holdings in Broadcom by 4.5% during the 4th quarter. Swiss National Bank now owns 1,387,763 shares of the semiconductor manufacturer’s stock worth $1,549,090,000 after acquiring an additional 60,329 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald raised their price target 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. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.1 %

NASDAQ:AVGO traded down $13.12 on Thursday, reaching $1,229.74. 1,560,013 shares of the stock traded hands, compared to its average volume of 2,893,092. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $1,310.35 and its 200-day moving average is $1,144.51. The firm has a market capitalization of $569.89 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly 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. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period last year, the firm earned $9.83 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.