Crews Bank & Trust Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Crews Bank & Trust acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,480 shares of the semiconductor manufacturer's stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. AMF Tjanstepension AB increased its position in shares of Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer's stock valued at $175,101,000 after buying an additional 908,585 shares in the last quarter. Czech National Bank grew its holdings in shares of Broadcom by 1,042.3% in the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer's stock valued at $163,573,000 after acquiring an additional 865,238 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in shares of Broadcom by 808.7% in 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 buying an additional 5,847 shares during the last quarter. Apella Capital LLC grew its position 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 acquiring an additional 2,502 shares during the period. Finally, Rockland Trust Co. raised its stake in Broadcom by 636.7% in the third quarter. Rockland Trust Co. now owns 3,050 shares of the semiconductor manufacturer's stock valued at $526,000 after buying an additional 2,636 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO traded up $5.61 on Friday, hitting $221.27. The company's stock had a trading volume of 41,097,327 shares, compared to its average volume of 27,719,020. The company's 50 day simple moving average is $213.41 and its 200-day simple moving average is $182.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The firm has a market cap of $1.04 trillion, a P/E ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 return on equity of 28.00% and a net margin of 11.43%. The firm's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Truist Financial lifted their price target on Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $225.04.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was 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 $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.