Emprise Bank Acquires 24,601 Shares of Broadcom Inc. (NASDAQ:AVGO)

Emprise Bank raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 872.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,420 shares of the semiconductor manufacturer’s stock after purchasing an additional 24,601 shares during the period. Broadcom accounts for about 2.7% of Emprise Bank’s holdings, making the stock its 11th biggest position. Emprise Bank’s holdings in Broadcom were worth $4,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. J. W. Coons Advisors LLC lifted its holdings in Broadcom by 5.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after purchasing an additional 69 shares in the last quarter. Per Stirling Capital Management LLC. lifted its holdings in shares of Broadcom by 2.0% in the fourth quarter. Per Stirling Capital Management LLC. now owns 560 shares of the semiconductor manufacturer’s stock worth $625,000 after buying an additional 11 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Broadcom by 25.9% in the fourth quarter. Gabelli Funds LLC now owns 5,107 shares of the semiconductor manufacturer’s stock valued at $5,701,000 after acquiring an additional 1,049 shares during the period. Exencial Wealth Advisors LLC grew its stake in Broadcom by 6.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 1,594 shares of the semiconductor manufacturer’s stock valued at $1,779,000 after acquiring an additional 97 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Broadcom by 3.7% during the 4th quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after acquiring an additional 170,063 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $170.66 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $794.40 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The stock has a fifty day simple moving average of $158.69 and a two-hundred day simple moving average of $149.13. Broadcom Inc. has a 12-month low of $80.89 and a 12-month high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AVGO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of Broadcom in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Rosenblatt Securities cut their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. 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.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. 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. 2.00% of the stock is owned by insiders.

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.