Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Tompkins Financial Corp

Tompkins Financial Corp boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the third quarter, HoldingsChannel reports. The firm owned 1,150 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,035 shares during the quarter. Tompkins Financial Corp’s holdings in Broadcom were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AXA S.A. boosted its position 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 grew its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after purchasing an additional 623,983 shares during the period. Summit Place Financial Advisors LLC lifted its holdings in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC increased 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 buying an additional 71,181 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVGO. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $176.22 on Wednesday. The company has a market capitalization of $823.05 billion, a P/E ratio of 153.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business’s 50-day moving average price is $171.08 and its two-hundred day moving average price is $158.17.

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

Broadcom Increases Dividend

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

About Broadcom

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.