Berkshire Bank Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Berkshire Bank raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 497 shares of the semiconductor manufacturer’s stock after buying an additional 21 shares during the quarter. Berkshire Bank’s holdings in Broadcom were worth $431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. MRP Capital Investments LLC raised its stake in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 21 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Broadcom in the fourth quarter worth $39,000. Sageworth Trust Co purchased a new position in shares of Broadcom in the first quarter worth $39,000. VitalStone Financial LLC raised its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Broadcom by 400.0% in the fourth quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 60 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Check Kian Low purchased 11,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the transaction, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the transaction, the director now owns 9,123 shares of the company’s stock, valued at $7,806,368.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Check Kian Low bought 11,000 shares of the stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the purchase, the director now owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AVGO shares. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of Broadcom in a report on Friday, September 1st. Oppenheimer raised their price objective on Broadcom from $900.00 to $990.00 and gave the stock an “outperform” rating in a research note on Friday, September 1st. TD Cowen raised their price objective on Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research note on Friday, September 1st. StockNews.com upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Rosenblatt Securities raised their target price on shares of Broadcom from $900.00 to $1,000.00 in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $846.14.

Broadcom Stock Down 0.2 %

Broadcom stock opened at $850.00 on Tuesday. The stock has a market capitalization of $350.83 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $923.67. The business has a 50 day simple moving average of $875.05 and a 200-day simple moving average of $763.54. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating analysts’ consensus estimates of $10.43 by $0.11. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $9.07 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be issued a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, September 20th. Broadcom’s payout ratio is currently 56.58%.

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.