Simmons Bank Has $1.90 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Simmons Bank lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,704 shares of the semiconductor manufacturer’s stock after buying an additional 15 shares during the quarter. Simmons Bank’s holdings in Broadcom were worth $1,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. International Assets Investment Management LLC raised its stake in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Broadcom in the 3rd quarter valued at $560,563,000. FMR LLC increased its stake in Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after purchasing an additional 573,826 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Finally, Barclays lifted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO traded down $7.20 during mid-day trading on Tuesday, hitting $1,303.11. The stock had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market cap of $603.89 billion, a P/E ratio of 48.30, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 52 week low of $615.86 and a 52 week high of $1,438.17. The business has a fifty day moving average price of $1,308.82 and a 200-day moving average price of $1,157.75.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $9.83 EPS. On average, equities research analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.61%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.