Doheny Asset Management CA Has $10.18 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Doheny Asset Management CA decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,920 shares of the semiconductor manufacturer’s stock after selling 250 shares during the quarter. Broadcom comprises 7.6% of Doheny Asset Management CA’s holdings, making the stock its 3rd largest holding. Doheny Asset Management CA’s holdings in Broadcom were worth $10,182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KFA Private Wealth Group LLC increased its holdings in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA increased its holdings in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its holdings in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC increased its holdings in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its holdings in shares of Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $195.54 on Friday. The stock’s 50-day simple moving average is $218.12 and its 200-day simple moving average is $193.68. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $919.42 billion, a price-to-earnings ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

A number of analysts have commented on AVGO shares. Mizuho reduced their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.