Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Union Savings Bank

Union Savings Bank boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 317 shares of the semiconductor manufacturer’s stock after purchasing an additional 29 shares during the period. Union Savings Bank’s holdings in Broadcom were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom during the 4th quarter valued at $25,000. PSI Advisors LLC boosted its stake in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth approximately $29,000. CKW Financial Group bought a new position in Broadcom in the fourth quarter valued at approximately $30,000. Finally, Bfsg LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated 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 of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Cantor Fitzgerald boosted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Jefferies Financial Group initiated coverage on shares of Broadcom in a research report on Monday, May 13th. They set a “buy” rating and a $1,550.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $1,296.91.

Broadcom Stock Down 0.5 %

NASDAQ:AVGO traded down $6.96 during trading hours on Wednesday, hitting $1,392.24. 2,090,319 shares of the company traded hands, compared to its average volume of 2,778,040. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $1,315.89 and its 200-day simple moving average is $1,194.30. Broadcom Inc. has a one year low of $676.06 and a one year high of $1,445.40. The company has a market cap of $645.19 billion, a PE ratio of 51.57, a PEG ratio of 2.87 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

About Broadcom

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.