Aubrey Capital Management Ltd Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Aubrey Capital Management Ltd cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,200 shares of the semiconductor manufacturer’s stock after selling 100 shares during the quarter. Broadcom makes up 1.5% of Aubrey Capital Management Ltd’s portfolio, making the stock its 16th largest holding. Aubrey Capital Management Ltd’s holdings in Broadcom were worth $3,573,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Dohj LLC acquired a new position in Broadcom during the fourth quarter worth $572,000. Valmark Advisers Inc. raised its position in Broadcom by 5.8% during the fourth quarter. Valmark Advisers Inc. now owns 677 shares of the semiconductor manufacturer’s stock worth $756,000 after acquiring an additional 37 shares during the period. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom during the fourth quarter worth $25,000. Addison Advisors LLC raised its position in Broadcom by 644.6% during the fourth quarter. Addison Advisors LLC now owns 685 shares of the semiconductor manufacturer’s stock worth $765,000 after acquiring an additional 593 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $1,667,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 3.8 %

Shares of AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. 2,409,983 shares of the stock were exchanged, compared to its average volume of 2,322,994. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a fifty day simple moving average of $1,306.70 and a 200 day simple moving average of $1,134.07. The firm has a market cap of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.