Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,492 shares of the semiconductor manufacturer’s stock after buying an additional 563 shares during the quarter. Broadcom makes up approximately 0.8% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 26th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Broadcom were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NCP Inc. grew its stake in 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 during the last quarter. AE Wealth Management LLC boosted its position in Broadcom by 20.5% in the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock valued at $7,515,000 after buying an additional 797 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Broadcom by 2,948.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer’s stock worth $23,204,000 after buying an additional 13,978 shares during the period. Kowal Investment Group LLC raised its position in Broadcom by 16.4% during the 2nd quarter. Kowal Investment Group LLC now owns 989 shares of the semiconductor manufacturer’s stock worth $1,588,000 after buying an additional 139 shares during the last quarter. Finally, Circle Wealth Management LLC lifted its stake in Broadcom by 109.9% during the 2nd quarter. Circle Wealth Management LLC now owns 1,146 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after acquiring an additional 600 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Price Performance

AVGO stock opened at $237.44 on Monday. Broadcom Inc. has a 1 year low of $112.19 and a 1 year high of $251.88. The firm has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50 day simple moving average of $202.01 and a 200-day simple moving average of $178.14.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.99%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

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.