Union Bankshares Corp grew its holdings in Broadcom Ltd (NASDAQ:AVGO) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,234 shares of the semiconductor manufacturer’s stock after acquiring an additional 652 shares during the period. Union Bankshares Corp’s holdings in Broadcom were worth $2,372,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Peapack Gladstone Financial Corp grew its position in Broadcom by 0.5% in the second quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock worth $503,000 after acquiring an additional 10 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Broadcom by 0.9% in the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after buying an additional 17 shares during the last quarter. Vestor Capital LLC lifted its stake in shares of Broadcom by 0.3% in the second quarter. Vestor Capital LLC now owns 15,051 shares of the semiconductor manufacturer’s stock worth $3,508,000 after buying an additional 49 shares during the last quarter. Intellectus Partners LLC lifted its stake in shares of Broadcom by 6.0% in the second quarter. Intellectus Partners LLC now owns 1,681 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 95 shares during the last quarter. Finally, Beaumont Financial Partners LLC raised its stake in Broadcom by 10.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 1,104 shares of the semiconductor manufacturer’s stock valued at $257,000 after purchasing an additional 100 shares during the last quarter. 88.48% of the stock is owned by institutional investors.
Several research firms recently commented on AVGO. Craig Hallum reiterated a “buy” rating on shares of Broadcom in a research note on Wednesday, September 13th. Vetr cut shares of Broadcom from a “buy” rating to a “hold” rating and set a $273.40 target price for the company. in a research note on Wednesday. JPMorgan Chase & Co. reiterated a “buy” rating and set a $315.00 target price on shares of Broadcom in a research note on Tuesday, September 12th. Jefferies Group set a $286.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, B. Riley reiterated a “buy” rating and set a $315.00 target price on shares of Broadcom in a research note on Monday, November 20th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and an average price target of $302.66.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the company posted $3.47 EPS. equities research analysts expect that Broadcom Ltd will post 16.99 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 18th. Broadcom’s dividend payout ratio (DPR) is currently 178.12%.
In related news, insider Hock E. Tan sold 20,789 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $259.85, for a total value of $5,402,021.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Bryan Ingram sold 794 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total transaction of $205,328.40. The disclosure for this sale can be found here. Insiders sold a total of 86,674 shares of company stock worth $22,311,790 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.
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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