Broadcom Inc. (NASDAQ:AVGO) Stake Lifted by First Community Trust NA

First Community Trust NA lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,357 shares of the semiconductor manufacturer’s stock after acquiring an additional 413 shares during the quarter. Broadcom comprises about 0.9% of First Community Trust NA’s investment portfolio, making the stock its 24th biggest holding. First Community Trust NA’s holdings in Broadcom were worth $1,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NCP Inc. boosted its position in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares in the last quarter. Primecap Management Co. CA lifted its stake in Broadcom by 61.4% during the second quarter. Primecap Management Co. CA now owns 95,428 shares of the semiconductor manufacturer’s stock valued at $153,213,000 after purchasing an additional 36,317 shares during the last quarter. Virtu Financial LLC bought a new stake in Broadcom during the second quarter worth approximately $2,116,000. Financial & Tax Architects LLC boosted its holdings in Broadcom by 20.1% during the second quarter. Financial & Tax Architects LLC now owns 925 shares of the semiconductor manufacturer’s stock worth $1,486,000 after buying an additional 155 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its position in Broadcom by 18.8% in the second quarter. E Fund Management Co. Ltd. now owns 11,981 shares of the semiconductor manufacturer’s stock worth $19,236,000 after buying an additional 1,894 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $228.00 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88. The business’s 50-day moving average price is $199.05 and its two-hundred day moving average price is $176.63. The company has a market capitalization of $1.07 trillion, a P/E ratio of 198.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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 business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.04%. Broadcom’s dividend payout ratio is 191.87%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s 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 in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

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.