OLD National Bancorp IN Has $5.60 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

OLD National Bancorp IN raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,148 shares of the semiconductor manufacturer's stock after purchasing an additional 2,287 shares during the quarter. OLD National Bancorp IN's holdings in Broadcom were worth $5,598,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB raised its position in Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer's stock valued at $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Czech National Bank increased its stake in shares of Broadcom by 1,042.3% during the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer's stock worth $163,573,000 after purchasing an additional 865,238 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in shares of Broadcom by 808.7% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 6,570 shares of the semiconductor manufacturer's stock valued at $1,133,000 after purchasing an additional 5,847 shares in the last quarter. Apella Capital LLC lifted its stake in shares of Broadcom by 887.2% in the 3rd quarter. Apella Capital LLC now owns 2,784 shares of the semiconductor manufacturer's stock valued at $475,000 after purchasing an additional 2,502 shares during the last quarter. Finally, Rockland Trust Co. boosted its holdings in Broadcom by 636.7% in the third quarter. Rockland Trust Co. now owns 3,050 shares of the semiconductor manufacturer's stock worth $526,000 after purchasing an additional 2,636 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $5.61 during mid-day trading on Friday, hitting $221.27. 41,097,327 shares of the stock were exchanged, compared to its average volume of 27,719,020. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The stock's fifty day simple moving average is $213.41 and its two-hundred day simple moving average is $182.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $1.04 trillion, a P/E ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.07%. Broadcom's dividend payout ratio is 192.50%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Morgan Stanley dropped their price target on shares of Broadcom from $265.00 to $246.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Finally, Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $225.04.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company's stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by insiders.

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.