Dorsey Wright & Associates Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Dorsey Wright & Associates lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 41.4% in the fourth quarter, Holdings Channel reports. The fund owned 25,582 shares of the semiconductor manufacturer’s stock after selling 18,052 shares during the quarter. Broadcom comprises 1.4% of Dorsey Wright & Associates’ investment portfolio, making the stock its 17th biggest holding. Dorsey Wright & Associates’ holdings in Broadcom were worth $5,931,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares in the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the fourth quarter worth about $32,000. Finally, Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $33,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three 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, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Down 1.7 %

Shares of NASDAQ AVGO opened at $169.12 on Friday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business’s 50 day moving average is $209.48 and its two-hundred day moving average is $196.25. The stock has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is 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.