CHICAGO TRUST Co NA Has $3.81 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

CHICAGO TRUST Co NA increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,736 shares of the semiconductor manufacturer's stock after buying an additional 2,224 shares during the quarter. Broadcom comprises about 0.7% of CHICAGO TRUST Co NA's portfolio, making the stock its 29th biggest position. CHICAGO TRUST Co NA's holdings in Broadcom were worth $3,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares in the last quarter. Nebula Research & Development LLC raised its stake in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Broadcom by 8.1% in the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after purchasing an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of Broadcom by 50.6% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after purchasing an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after buying an additional 86,884 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 5.0%

NASDAQ:AVGO opened at $246.95 on Monday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The stock's fifty day moving average price is $203.73 and its two-hundred day moving average price is $206.81. 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 company has a market cap of $1.16 trillion, a P/E ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $10.96 earnings per share. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday. Morgan Stanley upped their price target on Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $270.25.

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.

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