First PREMIER Bank Acquires 371 Shares of Broadcom Inc. (NASDAQ:AVGO)

First PREMIER Bank raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1,952.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 390 shares of the semiconductor manufacturer’s stock after buying an additional 371 shares during the period. First PREMIER Bank’s holdings in Broadcom were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Legend Financial Advisors Inc. raised its position in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $29,000. Delta Asset Management LLC TN boosted its holdings in Broadcom by 242.9% during 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 during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom in the 1st quarter worth about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $43,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 2.9 %

AVGO opened at $185.95 on Thursday. 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 Inc. has a one year low of $81.83 and a one year high of $186.42. The firm has a market capitalization of $865.57 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a fifty day moving average price of $160.88 and a 200-day moving average price of $150.57.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.14%. Broadcom’s payout ratio is presently 9.12%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVGO shares. Mizuho upped their target price on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company increased their price target on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, June 13th. Finally, William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,230 shares of company stock valued at $47,190,190 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.