Security National Bank of Sioux City Iowa IA Invests $234,000 in Broadcom Inc. (NASDAQ:AVGO)

Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 146 shares of the semiconductor manufacturer’s stock, valued at approximately $234,000.

Several other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. grew its position in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at $29,000. Delta Asset Management LLC TN boosted its holdings in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth $36,000. Finally, Creekmur Asset Management LLC bought a new position in Broadcom during the fourth quarter valued at about $43,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,452 shares of company stock worth $51,278,838. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $172.69 on Friday. The business has a 50 day simple moving average of $158.00 and a 200 day simple moving average of $148.25. Broadcom Inc. has a one year low of $80.89 and a one year high of $185.16. The company has a market capitalization of $806.56 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.23%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is currently 9.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group decreased their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Piper Sandler upped their target price on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Sanford C. Bernstein upped their price objective on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of Broadcom in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.