First National Bank of Omaha decreased its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,052 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the period. First National Bank of Omaha’s holdings in Broadcom were worth $6,116,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in Broadcom by 134.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock worth $4,834,000 after buying an additional 11,234 shares in the last quarter. Cobiz Wealth LLC lifted its position in Broadcom by 2.6% during the 4th quarter. Cobiz Wealth LLC now owns 26,674 shares of the semiconductor manufacturer’s stock worth $6,783,000 after buying an additional 665 shares in the last quarter. Dubuque Bank & Trust Co. lifted its position in Broadcom by 8.4% during the 4th quarter. Dubuque Bank & Trust Co. now owns 7,400 shares of the semiconductor manufacturer’s stock worth $1,882,000 after buying an additional 572 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Broadcom by 1.0% during the 3rd quarter. D.A. Davidson & CO. now owns 30,800 shares of the semiconductor manufacturer’s stock worth $7,600,000 after purchasing an additional 309 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in Broadcom by 16.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 52,505 shares of the semiconductor manufacturer’s stock worth $12,956,000 after purchasing an additional 7,571 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
In related news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total transaction of $5,099,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total value of $2,591,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,723 shares of company stock valued at $24,926,174. 3.30% of the stock is currently owned by company insiders.
Shares of AVGO stock traded down $2.02 on Wednesday, reaching $256.27. The company had a trading volume of 1,855,409 shares, compared to its average volume of 3,172,976. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. The stock has a market cap of $106.22 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $273.85.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. Broadcom’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.59 EPS. As a group, research analysts anticipate that Broadcom Inc will post 18.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th were paid a $2.65 dividend. The ex-dividend date of this dividend was Tuesday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.14%. Broadcom’s dividend payout ratio is 56.29%.
AVGO has been the subject of several recent research reports. Deutsche Bank dropped their price objective on Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 3rd. Credit Suisse Group initiated coverage on Broadcom in a report on Friday, November 16th. They set an “outperform” rating and a $300.00 price objective for the company. ValuEngine raised Broadcom from a “sell” rating to a “hold” rating in a report on Friday, November 16th. UBS Group dropped their price objective on Broadcom from $300.00 to $275.00 and set a “buy” rating for the company in a report on Friday, December 7th. Finally, BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. Nine research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus price target of $288.93.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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