Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by New Hampshire Trust

New Hampshire Trust grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,718 shares of the semiconductor manufacturer’s stock after purchasing an additional 660 shares during the period. Broadcom makes up approximately 1.7% of New Hampshire Trust’s portfolio, making the stock its 13th biggest holding. New Hampshire Trust’s holdings in Broadcom were worth $8,281,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division boosted its stake in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares in the last quarter. AXA S.A. boosted its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC boosted its stake in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after buying an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $240.91 on Thursday. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 196.50, a PEG ratio of 2.48 and a beta of 1.03. The stock has a fifty day moving average price of $204.46 and a 200 day moving average price of $179.16. Broadcom Inc. has a 52 week low of $117.43 and a 52 week 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.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s dividend payout ratio is currently 192.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AVGO shares. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Piper Sandler lifted their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

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.