Dover Advisors LLC Has $1.36 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Dover Advisors LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 30.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,862 shares of the semiconductor manufacturer’s stock after selling 2,523 shares during the period. Dover Advisors LLC’s holdings in Broadcom were worth $1,359,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake in Broadcom by 1.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 6,866 shares of the semiconductor manufacturer’s stock worth $1,592,000 after buying an additional 83 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Broadcom during the fourth quarter worth about $209,000. Colonial River Investments LLC grew its stake in Broadcom by 8.6% during the fourth quarter. Colonial River Investments LLC now owns 13,864 shares of the semiconductor manufacturer’s stock worth $3,214,000 after buying an additional 1,099 shares in the last quarter. Birchcreek Wealth Management LLC grew its stake in Broadcom by 63.9% during the fourth quarter. Birchcreek Wealth Management LLC now owns 2,258 shares of the semiconductor manufacturer’s stock worth $523,000 after buying an additional 880 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Broadcom during the fourth quarter worth about $10,795,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Susquehanna increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Benchmark reissued a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 2.6 %

Broadcom stock opened at $202.54 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a 50 day moving average price of $228.49 and a two-hundred day moving average price of $191.31. The firm has a market cap of $949.38 billion, a price-to-earnings ratio of 165.21, a PEG ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.17%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.