Berkshire Bank Acquires 2,390 Shares of Broadcom Inc. (NASDAQ:AVGO)

Berkshire Bank increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 39.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,392 shares of the semiconductor manufacturer's stock after buying an additional 2,390 shares during the period. Berkshire Bank's holdings in Broadcom were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Lebenthal Global Advisors LLC lifted its holdings in shares of Broadcom by 6.4% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,891 shares of the semiconductor manufacturer's stock valued at $670,000 after purchasing an additional 175 shares in the last quarter. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Broadcom by 1.1% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 9,064 shares of the semiconductor manufacturer's stock valued at $2,101,000 after purchasing an additional 96 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Broadcom by 43.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 37,289 shares of the semiconductor manufacturer's stock valued at $8,645,000 after purchasing an additional 11,382 shares in the last quarter. tru Independence LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $211,000. Finally, West Wealth Group LLC lifted its holdings in shares of Broadcom by 16.1% in the fourth quarter. West Wealth Group LLC now owns 11,233 shares of the semiconductor manufacturer's stock valued at $2,604,000 after purchasing an additional 1,554 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Benchmark reaffirmed a "buy" rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.04.

Broadcom Trading Down 1.6 %

Shares of AVGO traded down $3.54 during midday trading on Monday, hitting $217.73. The stock had a trading volume of 24,303,345 shares, compared to its average volume of 31,532,539. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50-day simple moving average of $213.41 and a two-hundred day simple moving average of $182.20. The firm has a market cap of $1.02 trillion, a P/E ratio of 177.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company posted $0.98 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current 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 issued a dividend of $0.59 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is currently 192.50%.

About Broadcom

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.