Davidson Trust Co. Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Davidson Trust Co. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 541 shares of the semiconductor manufacturer’s stock after selling 45 shares during the period. Davidson Trust Co.’s holdings in Broadcom were worth $604,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the 4th quarter worth approximately $30,000. VitalStone Financial LLC raised its holdings in shares of Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the period. Finally, Rise Advisors LLC raised its holdings in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Finally, Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday. They set an “outperform” rating and a $1,620.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twenty 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 $1,285.41.

Broadcom Price Performance

NASDAQ:AVGO traded down $26.82 during midday trading on Friday, hitting $1,232.17. The company had a trading volume of 996,920 shares, compared to its average volume of 2,921,205. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock’s fifty day moving average price is $1,306.69 and its 200-day moving average price is $1,116.18. The company has a market capitalization of $571.01 billion, a PE ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business posted $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.70%. Broadcom’s payout ratio is 77.84%.

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.