Tompkins Financial Corp decreased its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 79.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 105 shares of the semiconductor manufacturer’s stock after selling 410 shares during the period. Tompkins Financial Corp’s holdings in Broadcom were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. MRP Capital Investments LLC increased its stake in Broadcom by 60.0% during the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 21 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $39,000. Sageworth Trust Co bought a new stake in shares of Broadcom during the 1st quarter valued at about $39,000. VitalStone Financial LLC raised its stake in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the period. Finally, Osterweis Capital Management Inc. lifted its holdings in 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 acquiring an additional 60 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AVGO has been the subject of several recent research reports. Oppenheimer upped their target price on Broadcom from $900.00 to $990.00 and gave the company an “outperform” rating in a report on Friday, September 1st. TD Cowen increased their target price on Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. StockNews.com upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Wolfe Research started coverage on shares of Broadcom in a research report on Wednesday, July 19th. They set a “market perform” rating for the company. Finally, Robert W. Baird lifted their price objective on shares of Broadcom from $900.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $846.14.
Broadcom Price Performance
Shares of AVGO traded down $8.90 during midday trading on Tuesday, reaching $841.10. The stock had a trading volume of 332,726 shares, compared to its average volume of 2,494,073. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25. The company has a market capitalization of $347.16 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.78 and a beta of 1.10. The firm’s 50 day moving average price is $875.05 and its 200-day moving average price is $763.54. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $923.67.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, topping the consensus estimate of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same period in the previous year, the business earned $9.07 earnings per share. Broadcom’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a $4.60 dividend. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $18.40 annualized dividend and a yield of 2.19%. Broadcom’s dividend payout ratio (DPR) is 56.58%.
Insider Buying and Selling at Broadcom
In other news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the sale, the director now directly owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of the company’s 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 sale, the director now directly owns 9,123 shares of the company’s stock, valued at $7,806,368.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Check Kian Low bought 11,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was purchased at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the transaction, 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. 2.20% of the stock is owned by corporate insiders.
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.
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