Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Bank of New Hampshire

Bank of New Hampshire grew its position in Broadcom Inc. (NASDAQ:AVGO) by 954.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 580 shares of the semiconductor manufacturer’s stock after purchasing an additional 525 shares during the period. Bank of New Hampshire’s holdings in Broadcom were worth $100,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. increased its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN grew 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 acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Broadcom during the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in Broadcom during the fourth quarter worth about $43,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock opened at $175.08 on Tuesday. Broadcom Inc. has a one year low of $81.83 and a one year high of $185.16. The company has a market cap of $814.98 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 2.78 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business’s 50 day moving average price is $159.64 and its 200 day moving average price is $149.81.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. TD Cowen raised Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Truist Financial raised their price objective on Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, The Goldman Sachs Group raised their price objective on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,151,910 shares of the company’s stock, valued at approximately $198,497,131.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the completion of the transaction, the chief executive officer now owns 1,151,910 shares of the company’s stock, valued at approximately $198,497,131.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,452 shares of company stock worth $56,396,638 over the last quarter. 2.00% of the stock is currently owned by company 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.