Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 44.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,220 shares of the semiconductor manufacturer’s stock after selling 4,215 shares during the quarter. Associated Banc Corp’s holdings in Broadcom were worth $1,210,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC grew its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Citigroup increased their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $195.54 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $919.42 billion, a price-to-earnings ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock’s fifty day moving average is $218.12 and its two-hundred day moving average is $193.91.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom Company 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.