Broadcom Inc. (NASDAQ:AVGO) is Field & Main Bank’s 9th Largest Position

Field & Main Bank increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 884.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,750 shares of the semiconductor manufacturer’s stock after buying an additional 34,812 shares during the quarter. Broadcom accounts for about 2.4% of Field & Main Bank’s portfolio, making the stock its 9th largest position. Field & Main Bank’s holdings in Broadcom were worth $6,684,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AVGO. AXA S.A. lifted its stake in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC increased its position in shares of Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares during the period. Whittier Trust Co. raised its stake in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after acquiring an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC lifted its position in Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after acquiring an additional 8,834 shares during the period. Finally, Signaturefd LLC grew its stake in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock valued at $13,624,000 after purchasing an additional 71,181 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Cantor Fitzgerald increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.5 %

Shares of AVGO opened at $176.22 on Wednesday. Broadcom Inc. has a 52-week low of $90.31 and a 52-week high of $186.42. The stock has a market cap of $823.05 billion, a PE ratio of 153.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. The firm’s fifty day moving average is $171.08 and its two-hundred day moving average is $158.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. Research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Broadcom Company 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.