Broadcom Inc. (NASDAQ:AVGO) Stake Raised by Exchange Bank

Exchange Bank raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,836 shares during the quarter. Exchange Bank’s holdings in Broadcom were worth $352,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. American Trust increased its stake in shares of Broadcom by 2.3% in the fourth quarter. American Trust now owns 451 shares of the semiconductor manufacturer’s stock worth $503,000 after acquiring an additional 10 shares during the last quarter. WNY Asset Management LLC grew its stake in Broadcom by 15.9% in the fourth quarter. WNY Asset Management LLC now owns 299 shares of the semiconductor manufacturer’s stock valued at $334,000 after purchasing an additional 41 shares in the last quarter. Beacon Financial Group increased its position in Broadcom by 46.3% in the 4th quarter. Beacon Financial Group now owns 683 shares of the semiconductor manufacturer’s stock worth $762,000 after purchasing an additional 216 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Broadcom by 27.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 143,264 shares of the semiconductor manufacturer’s stock worth $159,918,000 after purchasing an additional 31,244 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in shares of Broadcom by 21.9% during the 4th quarter. Syon Capital LLC now owns 4,722 shares of the semiconductor manufacturer’s stock valued at $5,271,000 after buying an additional 847 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 2.3 %

Shares of AVGO stock opened at $181.48 on Friday. The stock has a market cap of $847.62 billion, a P/E ratio of 157.67, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a fifty day moving average price of $162.91 and a 200 day moving average price of $151.64. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The firm’s revenue was up 47.3% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AVGO shares. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Benchmark restated a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Truist Financial raised their target price on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.29.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 295,130 shares of company stock valued at $50,646,622 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

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.