Members Trust Co Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Members Trust Co purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 179 shares of the semiconductor manufacturer’s stock, valued at approximately $201,000.

Other hedge funds have also added to or reduced their stakes in the company. RMR Wealth Builders boosted its holdings in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank lifted its holdings in shares of Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after purchasing an additional 22,774 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares in the last quarter. NatWest Group plc lifted its holdings in shares of Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after purchasing an additional 631 shares in the last quarter. Finally, Rainsberger Wealth Advisors Inc. lifted its holdings in shares of Broadcom by 1.7% during the fourth quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer’s stock valued at $2,405,000 after purchasing an additional 36 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Susquehanna upped their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,255.18.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $33.38 during trading on Monday, hitting $1,310.69. 2,416,191 shares of the company’s stock were exchanged, compared to its average volume of 2,975,872. 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 Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The business’s 50-day simple moving average is $1,303.01 and its 200 day simple moving average is $1,107.12. The company has a market cap of $607.40 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.83 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.60%. Broadcom’s payout ratio is currently 77.84%.

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.