Dnca Finance Acquires 4,005 Shares of Broadcom Inc. (NASDAQ:AVGO)

Dnca Finance increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,905 shares of the semiconductor manufacturer's stock after buying an additional 4,005 shares during the period. Broadcom accounts for 2.2% of Dnca Finance's holdings, making the stock its 12th largest position. Dnca Finance's holdings in Broadcom were worth $28,262,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Bank of America lowered their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Benchmark reiterated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $229.48.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $9.65 on Wednesday, hitting $179.23. 12,107,952 shares of the company traded hands, compared to its average volume of 31,207,020. Broadcom Inc. has a 12-month low of $122.33 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 firm's 50-day simple moving average is $187.11 and its 200 day simple moving average is $195.98. The company has a market cap of $842.73 billion, a P/E ratio of 146.19, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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.