First National Bank of Omaha Sells 256 Shares of Broadcom Inc. (NASDAQ:AVGO)

First National Bank of Omaha decreased its position in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 22.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902 shares of the semiconductor manufacturer’s stock after selling 256 shares during the quarter. First National Bank of Omaha’s holdings in Broadcom were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of Broadcom in the fourth quarter worth approximately $2,403,800,000. Jennison Associates LLC grew its holdings in Broadcom by 419.8% in the 1st quarter. Jennison Associates LLC now owns 1,860,573 shares of the semiconductor manufacturer’s stock worth $1,171,566,000 after acquiring an additional 1,502,640 shares during the last quarter. BlackRock Inc. grew its holdings in Broadcom by 4.3% in the 1st quarter. BlackRock Inc. now owns 28,569,124 shares of the semiconductor manufacturer’s stock worth $17,989,404,000 after acquiring an additional 1,180,078 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Broadcom by 88.9% in the first quarter. Fisher Asset Management LLC now owns 1,421,008 shares of the semiconductor manufacturer’s stock valued at $894,781,000 after acquiring an additional 668,719 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Broadcom by 16.4% during the fourth quarter. Nuveen Asset Management LLC now owns 4,431,858 shares of the semiconductor manufacturer’s stock valued at $2,949,003,000 after acquiring an additional 624,821 shares during the last quarter. 79.60% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $502.50 on Friday. Broadcom Inc. has a one year low of $463.91 and a one year high of $677.76. The company’s 50-day moving average is $520.95 and its 200 day moving average is $551.03. The company has a market capitalization of $203.51 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.73 EPS for the quarter, beating the consensus estimate of $9.56 by $0.17. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the firm posted $6.32 EPS. Broadcom’s revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 34.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be given a dividend of $4.10 per share. This represents a $16.40 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, September 21st. Broadcom’s dividend payout ratio (DPR) is 70.93%.

Broadcom announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 26th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. KeyCorp reduced their price target on Broadcom from $780.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, September 2nd. Truist Financial decreased their target price on Broadcom from $658.00 to $630.00 and set a “buy” rating for the company in a report on Friday, September 2nd. BMO Capital Markets cut their price target on shares of Broadcom from $675.00 to $650.00 and set an “outperform” rating on the stock in a report on Friday, September 2nd. Susquehanna restated a “buy” rating and issued a $680.00 price objective on shares of Broadcom in a report on Friday, September 2nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $700.00 target price on shares of Broadcom in a research note on Tuesday, September 6th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $675.33.

Broadcom Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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