Peoples Bank KS Buys Shares of 490 Broadcom Inc. (NASDAQ:AVGO)

Peoples Bank KS bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 490 shares of the semiconductor manufacturer’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Legend Financial Advisors Inc. grew its position in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of Broadcom during the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN grew its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Broadcom during the fourth quarter worth $43,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AVGO shares. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Evercore ISI upped their target price on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Barclays raised their price target on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. The Goldman Sachs Group lifted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Truist Financial raised their target price on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $189.23.

Insider Activity

In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,452 shares of company stock worth $52,950,238. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 2.8 %

Shares of AVGO stock traded up $4.75 on Friday, hitting $176.64. The stock had a trading volume of 17,912,365 shares, compared to its average volume of 31,198,639. The stock’s 50 day moving average is $159.14 and its 200-day moving average is $149.44. The firm has a market capitalization of $822.24 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a 52-week low of $81.17 and a 52-week high of $185.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

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.