First National Bank of Mount Dora Trust Investment Services Sells 8,384 Shares of Broadcom Inc. (NASDAQ:AVGO)

First National Bank of Mount Dora Trust Investment Services decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,173 shares of the semiconductor manufacturer's stock after selling 8,384 shares during the period. Broadcom accounts for approximately 2.5% of First National Bank of Mount Dora Trust Investment Services' holdings, making the stock its 11th largest position. First National Bank of Mount Dora Trust Investment Services' holdings in Broadcom were worth $10,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. SJS Investment Consulting Inc. lifted its stake in Broadcom by 158.5% in the first quarter. SJS Investment Consulting Inc. now owns 1,207 shares of the semiconductor manufacturer's stock valued at $202,000 after acquiring an additional 740 shares during the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of Broadcom by 2.0% in the 1st quarter. Sonora Investment Management Group LLC now owns 125,154 shares of the semiconductor manufacturer's stock valued at $20,955,000 after purchasing an additional 2,457 shares during the period. Paragon Advisors LLC lifted its stake in Broadcom by 1.1% in the 1st quarter. Paragon Advisors LLC now owns 18,959 shares of the semiconductor manufacturer's stock valued at $3,174,000 after purchasing an additional 200 shares during the last quarter. MADDEN SECURITIES Corp grew its holdings in Broadcom by 116.9% during the first quarter. MADDEN SECURITIES Corp now owns 13,975 shares of the semiconductor manufacturer's stock worth $2,340,000 after purchasing an additional 7,532 shares during the period. Finally, Accurate Wealth Management LLC increased its position in Broadcom by 10.5% during the first quarter. Accurate Wealth Management LLC now owns 20,706 shares of the semiconductor manufacturer's stock worth $3,765,000 after buying an additional 1,963 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO traded up $0.35 during trading hours on Tuesday, reaching $244.63. The stock had a trading volume of 25,457,534 shares, compared to its average volume of 31,006,449. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The stock has a market capitalization of $1.15 trillion, a PE ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. The company's 50-day moving average is $205.17 and its two-hundred day moving average is $207.37.

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

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid 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 is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Broadcom from $267.00 to $304.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company raised their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday. Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Oppenheimer lifted their target price on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $272.71.

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.