Intrust Bank NA Purchases 99 Shares of Broadcom Inc. (NASDAQ:AVGO)

Intrust Bank NA boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,070 shares of the semiconductor manufacturer’s stock after acquiring an additional 99 shares during the quarter. Broadcom makes up approximately 0.8% of Intrust Bank NA’s holdings, making the stock its 24th biggest holding. Intrust Bank NA’s holdings in Broadcom were worth $6,776,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom in the 4th quarter valued at about $25,000. PSI Advisors LLC boosted its stake in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group bought a new position in shares of Broadcom in the 4th quarter valued at about $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

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

Broadcom Price Performance

AVGO traded down $5.45 on Monday, hitting $1,338.62. 1,295,933 shares of the stock were exchanged, compared to its average volume of 2,909,005. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business has a 50-day moving average of $1,306.70 and a two-hundred day moving average of $1,137.84. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market capitalization of $620.34 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.83 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald increased their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.