Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Berkshire Bank

Berkshire Bank lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 39.8% during the fourth quarter, Holdings Channel reports. The firm owned 8,392 shares of the semiconductor manufacturer’s stock after buying an additional 2,390 shares during the period. Berkshire Bank’s holdings in Broadcom were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Centaurus Financial Inc. grew its position in Broadcom by 51.6% in the 2nd quarter. Centaurus Financial Inc. now owns 7,086 shares of the semiconductor manufacturer’s stock worth $11,377,000 after purchasing an additional 2,412 shares during the last quarter. Greater Midwest Financial Group LLC boosted its position in shares of Broadcom by 868.6% during the second quarter. Greater Midwest Financial Group LLC now owns 47,925 shares of the semiconductor manufacturer’s stock worth $76,945,000 after buying an additional 42,977 shares during the period. Alternative Investment Advisors LLC. bought a new position in Broadcom in the 2nd quarter worth approximately $3,162,000. Mattson Financial Services LLC acquired a new stake in Broadcom in the 2nd quarter valued at approximately $2,330,000. Finally, Neville Rodie & Shaw Inc. raised its stake in Broadcom by 982.4% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 43,285 shares of the semiconductor manufacturer’s stock valued at $7,467,000 after acquiring an additional 39,286 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley reduced their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday. Mizuho boosted their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $215.66 on Friday. The company has a market cap of $1.01 trillion, a P/E ratio of 175.91, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company’s fifty day moving average is $211.24 and its two-hundred day moving average is $181.27. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. Broadcom’s payout ratio is presently 191.87%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.