Umpqua Bank Takes $369,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Umpqua Bank purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,644 shares of the semiconductor manufacturer's stock, valued at approximately $369,000.

Other hedge funds have also made changes to their positions in the company. Intellus Advisors LLC acquired a new position in Broadcom during the 4th quarter worth $13,093,000. American Century Companies Inc. boosted its stake in shares of Broadcom by 72.8% in the 4th quarter. American Century Companies Inc. now owns 7,174,741 shares of the semiconductor manufacturer's stock valued at $1,663,392,000 after buying an additional 3,022,589 shares during the period. Plancorp LLC grew its position in shares of Broadcom by 21.1% during the fourth quarter. Plancorp LLC now owns 8,193 shares of the semiconductor manufacturer's stock worth $1,899,000 after buying an additional 1,430 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $291,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Broadcom by 46.7% during the fourth quarter. Mizuho Securities USA LLC now owns 442,665 shares of the semiconductor manufacturer's stock worth $102,627,000 after buying an additional 140,821 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AVGO shares. Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. KeyCorp raised their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $231.48.

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Broadcom Price Performance

Broadcom stock traded down $2.99 during midday trading on Tuesday, reaching $188.26. The company's stock had a trading volume of 23,379,840 shares, compared to its average volume of 28,981,564. The firm has a market capitalization of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock's 50 day simple moving average is $212.97 and its 200 day simple moving average is $196.00. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,000 shares of company stock valued at $21,494,560. Corporate insiders own 2.00% of the company's stock.

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.