Doliver Advisors LP Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Doliver Advisors LP reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,440 shares of the semiconductor manufacturer’s stock after selling 2,304 shares during the period. Broadcom comprises about 0.9% of Doliver Advisors LP’s holdings, making the stock its 16th largest holding. Doliver Advisors LP’s holdings in Broadcom were worth $3,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. NCP Inc. grew its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Broadcom by 80,715.3% in the second quarter. Strategic Financial Concepts LLC now owns 206,079 shares of the semiconductor manufacturer’s stock valued at $3,309,000 after purchasing an additional 205,824 shares during the period. MainStreet Investment Advisors LLC acquired a new position in Broadcom during the 2nd quarter worth $7,042,000. Otter Creek Advisors LLC grew its stake in Broadcom by 16.2% during the 2nd quarter. Otter Creek Advisors LLC now owns 4,080 shares of the semiconductor manufacturer’s stock worth $6,551,000 after purchasing an additional 570 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Broadcom by 168.8% during the 2nd quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock worth $53,046,000 after purchasing an additional 20,753 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,128 shares of company stock worth $29,820,640. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $1.90 during midday trading on Monday, reaching $234.45. 21,153,471 shares of the company were exchanged, compared to its average volume of 25,768,035. The stock has a fifty day simple moving average of $191.27 and a 200 day simple moving average of $173.87. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.10 trillion, a P/E ratio of 203.69, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1 year low of $105.20 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business posted $0.98 EPS. The company’s revenue was up 51.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVGO. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

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.