Dorsey Wright & Associates Sells 18,052 Shares of Broadcom Inc. (NASDAQ:AVGO)

Dorsey Wright & Associates trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 41.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,582 shares of the semiconductor manufacturer’s stock after selling 18,052 shares during the period. Broadcom accounts for 1.4% of Dorsey Wright & Associates’ investment portfolio, making the stock its 17th biggest position. Dorsey Wright & Associates’ holdings in Broadcom were worth $5,931,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. RWA Wealth Partners LLC raised its holdings in shares of Broadcom by 3.8% in the 4th quarter. RWA Wealth Partners LLC now owns 258,124 shares of the semiconductor manufacturer’s stock valued at $59,843,000 after acquiring an additional 9,442 shares in the last quarter. Summit Securities Group LLC increased its position in shares of Broadcom by 5,870.7% in the fourth quarter. Summit Securities Group LLC now owns 244,800 shares of the semiconductor manufacturer’s stock worth $56,754,000 after purchasing an additional 240,700 shares during the last quarter. Schroder Investment Management Group raised its stake in Broadcom by 5.8% in the fourth quarter. Schroder Investment Management Group now owns 6,530,721 shares of the semiconductor manufacturer’s stock valued at $1,514,082,000 after purchasing an additional 356,841 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Broadcom by 166.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 572,906 shares of the semiconductor manufacturer’s stock worth $132,823,000 after buying an additional 358,170 shares in the last quarter. Finally, PARUS FINANCE UK Ltd bought a new position in shares of Broadcom in the 4th quarter worth $8,471,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 785,976 shares of company stock worth $147,912,102. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVGO. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Piper Sandler raised their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 1.7 %

Broadcom stock opened at $169.12 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $209.48 and its two-hundred day simple moving average is $196.25. The company has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. 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.