Broadcom Inc. (NASDAQ:AVGO) Stake Raised by Simmons Bank

Simmons Bank raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,704 shares of the semiconductor manufacturer’s stock after acquiring an additional 15 shares during the quarter. Simmons Bank’s holdings in Broadcom were worth $1,902,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Pathway Financial Advisors LLC boosted its stake in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares during the period. Todd Asset Management LLC grew its stake in Broadcom by 26.3% in the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after purchasing an additional 16,608 shares in the last quarter. Benjamin Edwards Inc. increased its position in Broadcom by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after purchasing an additional 91 shares during the last quarter. Stegent Equity Advisors Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth about $271,000. Finally, Intrust Bank NA lifted its holdings in shares of Broadcom by 1.7% during the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of AVGO traded down $7.20 on Tuesday, reaching $1,303.11. 1,240,937 shares of the stock traded hands, compared to its average volume of 2,871,969. The firm has a market cap of $603.89 billion, a price-to-earnings ratio of 48.30, a P/E/G ratio of 2.60 and a beta of 1.25. The stock’s 50-day moving average price is $1,308.82 and its 200-day moving average price is $1,157.75. Broadcom Inc. has a 12 month low of $615.86 and a 12 month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 EPS. Equities analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.