Members Trust Co Has $515,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Members Trust Co raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 51.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,073 shares of the semiconductor manufacturer's stock after purchasing an additional 1,047 shares during the quarter. Members Trust Co's holdings in Broadcom were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $3.11 during midday trading on Friday, hitting $283.34. The company had a trading volume of 15,006,524 shares, compared to its average volume of 27,818,679. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.33 trillion, a price-to-earnings ratio of 106.12, a P/E/G ratio of 2.02 and a beta of 1.12. The firm has a fifty day simple moving average of $254.41 and a two-hundred day simple moving average of $220.25. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $288.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. KeyCorp increased their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. UBS Group raised their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a report on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average price target of $292.08.

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.