UMB Bank n.a. Sells 4,308 Shares of Broadcom Inc. $AVGO

UMB Bank n.a. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 479,863 shares of the semiconductor manufacturer’s stock after selling 4,308 shares during the quarter. Broadcom comprises about 2.3% of UMB Bank n.a.’s holdings, making the stock its 8th biggest holding. UMB Bank n.a.’s holdings in Broadcom were worth $158,312,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Arthur M. Cohen & Associates LLC lifted its holdings in Broadcom by 0.6% in the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after acquiring an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares during the period. Private Wealth Partners LLC lifted its stake in shares of Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after purchasing an additional 30 shares during the last quarter. McHugh Group LLC grew its holdings in shares of Broadcom by 0.4% during the 3rd quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after purchasing an additional 31 shares during the period. Finally, Smith Thornton Advisors LLC grew its holdings in shares of Broadcom by 1.4% during the 3rd quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock worth $763,000 after purchasing an additional 31 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.8%

Shares of NASDAQ AVGO opened at $310.51 on Friday. The stock has a market cap of $1.47 trillion, a P/E ratio of 65.23, a PEG ratio of 0.99 and a beta of 1.21. The business’s fifty day simple moving average is $350.00 and its 200-day simple moving average is $338.20. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the completion of the sale, the insider directly owned 210,573 shares of the company’s stock, valued at $73,094,099.76. The trade was a 12.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares in the company, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 779,901 shares of company stock worth $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. KeyCorp restated an “overweight” rating and issued a $500.00 price objective (up from $460.00) on shares of Broadcom in a report on Friday, December 12th. Susquehanna reaffirmed a “positive” rating and set a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Robert W. Baird set a $420.00 price target on Broadcom in a research note on Friday, December 12th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Mizuho set a $480.00 target price on Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus target price of $437.28.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.