Broadcom Ltd (AVGO) Position Lessened by American National Bank

American National Bank reduced its position in shares of Broadcom Ltd (NASDAQ:AVGO) by 19.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,471 shares of the semiconductor manufacturer’s stock after selling 2,705 shares during the period. American National Bank’s holdings in Broadcom were worth $2,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $113,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Broadcom in the 2nd quarter valued at $113,000. Tower Research Capital LLC TRC raised its stake in shares of Broadcom by 473.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after buying an additional 473 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in shares of Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after buying an additional 220 shares in the last quarter. Finally, Balentine LLC raised its stake in shares of Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock valued at $148,000 after buying an additional 114 shares in the last quarter. 88.48% of the stock is owned by institutional investors and hedge funds.

AVGO has been the subject of a number of recent research reports. Vetr cut shares of Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective for the company. in a research note on Monday, November 27th. Royal Bank of Canada reiterated a “top pick” rating and set a $285.00 target price on shares of Broadcom in a research report on Wednesday, October 11th. Nomura increased their target price on shares of Broadcom to $330.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Mizuho increased their target price on shares of Broadcom from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, KeyCorp reiterated a “buy” rating and set a $290.00 target price on shares of Broadcom in a research report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $302.66.

In other news, SVP Bryan Ingram sold 794 shares of Broadcom stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total value of $205,328.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $259.68, for a total transaction of $5,193,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,674 shares of company stock worth $22,311,790 in the last three months. 3.60% of the stock is owned by insiders.

Broadcom Ltd (AVGO) traded down $5.67 during trading on Thursday, reaching $262.83. 3,159,900 shares of the company traded hands, compared to its average volume of 2,722,714. Broadcom Ltd has a twelve month low of $175.40 and a twelve month high of $285.68. The company has a market cap of $107,290.00, a price-to-earnings ratio of 66.88, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter last year, the firm earned $3.47 EPS. Broadcom’s quarterly revenue was up 17.1% compared to the same quarter last year. research analysts anticipate that Broadcom Ltd will post 16.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were paid a dividend of $1.75 per share. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, December 18th. This represents a $7.00 annualized dividend and a yield of 2.66%. Broadcom’s dividend payout ratio (DPR) is presently 178.12%.

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About Broadcom

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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