Stock Yards Bank & Trust Co. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,791 shares of the semiconductor manufacturer's stock after acquiring an additional 3,179 shares during the period. Broadcom makes up approximately 1.8% of Stock Yards Bank & Trust Co.'s investment portfolio, making the stock its 14th largest position. Stock Yards Bank & Trust Co.'s holdings in Broadcom were worth $49,357,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in AVGO. Tallon Kerry Patrick bought a new stake in Broadcom during the fourth quarter worth $357,000. Capital & Planning LLC lifted its stake in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after acquiring an additional 554 shares during the last quarter. LaFleur & Godfrey LLC lifted its stake in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after acquiring an additional 12,345 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Broadcom in the 4th quarter valued at $71,312,000. Institutional investors own 76.43% of the company's stock.
Insider Transactions at Broadcom
In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider now directly owns 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, 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 three months, insiders have sold 730,576 shares of company stock valued at $133,778,494. 2.00% of the stock is currently owned by company insiders.
Broadcom Price Performance
Shares of NASDAQ AVGO traded up $4.43 during mid-day trading on Monday, hitting $253.13. 11,847,304 shares of the company's stock traded hands, compared to its average volume of 30,310,653. The company's 50-day moving average is $213.01 and its two-hundred day moving average is $209.85. 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 capitalization of $1.19 trillion, a P/E ratio of 206.59, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the company posted $10.96 EPS. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.
Analysts Set New Price Targets
A number of brokerages have recently commented on AVGO. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Oppenheimer boosted 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. Wells Fargo & Company boosted their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $276.09.
Read Our Latest Stock Analysis on AVGO
Broadcom Profile
(
Free Report)
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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