AMG National Trust Bank Buys 651 Shares of Broadcom Inc. (NASDAQ:AVGO)

AMG National Trust Bank grew its stake in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 61.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,704 shares of the semiconductor manufacturer’s stock after buying an additional 651 shares during the quarter. AMG National Trust Bank’s holdings in Broadcom were worth $757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Broadcom by 91.4% in the third quarter. Los Angeles Capital Management LLC now owns 919,152 shares of the semiconductor manufacturer’s stock worth $408,113,000 after purchasing an additional 438,956 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Broadcom by 20.5% in the second quarter. Jennison Associates LLC now owns 2,241,848 shares of the semiconductor manufacturer’s stock worth $1,089,112,000 after purchasing an additional 381,275 shares during the last quarter. Amundi grew its stake in shares of Broadcom by 61.0% in the second quarter. Amundi now owns 993,765 shares of the semiconductor manufacturer’s stock worth $481,619,000 after purchasing an additional 376,342 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Broadcom in the third quarter worth about $114,877,000. 81.28% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $581.63 on Tuesday. Broadcom Inc. has a twelve month low of $415.07 and a twelve month high of $645.31. The firm has a market cap of $243.06 billion, a P/E ratio of 21.95, a PEG ratio of 1.19 and a beta of 1.08. The company has a 50 day moving average of $550.89 and a 200 day moving average of $514.72. The company has a quick ratio of 2.35, a current ratio of 2.62 and a debt-to-equity ratio of 1.72.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings data on Thursday, December 8th. The semiconductor manufacturer reported $9.75 earnings per share for the quarter, topping analysts’ consensus estimates of $9.50 by $0.25. Broadcom had a net margin of 34.62% and a return on equity of 70.00%. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the business earned $7.01 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 37.39 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Tuesday, December 20th were issued a $4.60 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Monday, December 19th. Broadcom’s payout ratio is presently 69.43%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 170 shares of Broadcom stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total value of $97,726.20. Following the completion of the sale, the director now owns 2,981 shares of the company’s stock, valued at approximately $1,713,657.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on AVGO. StockNews.com upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 5th. Evercore ISI raised their price objective on shares of Broadcom to $650.00 in a report on Monday, December 12th. Susquehanna Bancshares lowered their price objective on shares of Broadcom from $680.00 to $650.00 and set a “positive” rating for the company in a report on Monday, December 5th. Wells Fargo & Company began coverage on shares of Broadcom in a report on Friday, December 9th. They issued an “equal weight” rating for the company. Finally, UBS Group lowered their price objective on shares of Broadcom from $690.00 to $675.00 in a report on Friday, December 9th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $667.21.

About Broadcom

(Get Rating)

Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.

Read More

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGOGet Rating).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.