Broadcom Inc. (NASDAQ:AVGO) Stock Position Increased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 808.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,570 shares of the semiconductor manufacturer’s stock after buying an additional 5,847 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Broadcom were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legend Financial Advisors Inc. raised its stake in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $29,000. Delta Asset Management LLC TN raised its position in shares of 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 period. Redmont Wealth Advisors LLC acquired a new stake in shares of Broadcom during the first quarter worth $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $43,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their target price on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Jefferies Financial Group lifted their price target on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Wells Fargo & Company lifted their price target on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Finally, Mizuho lifted their price target on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Activity

In other news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,452 shares of company stock worth $52,950,238. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $4.75 during trading hours on Friday, hitting $176.64. 17,941,387 shares of the company’s stock were exchanged, compared to its average volume of 31,198,639. Broadcom Inc. has a 1-year low of $81.17 and a 1-year high of $185.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $822.24 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 2.78 and a beta of 1.17. The company’s 50-day moving average price is $159.64 and its 200-day moving average price is $149.81.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts expect 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. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is currently 9.12%.

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.