Family Capital Trust Co Invests $5.69 Million in Broadcom Inc. $AVGO

Family Capital Trust Co purchased a new stake in Broadcom Inc. (NASDAQ:AVGOFree Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,234 shares of the semiconductor manufacturer’s stock, valued at approximately $5,685,000. Broadcom makes up approximately 1.9% of Family Capital Trust Co’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sawyer & Company Inc grew its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the 2nd quarter valued at $28,000. Teachers Insurance & Annuity Association of America bought a new stake in Broadcom during the 2nd quarter worth $28,000. Finally, LGT Financial Advisors LLC bought a new stake in Broadcom during the 2nd quarter worth $31,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $339.89 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a 50 day simple moving average of $359.19 and a two-hundred day simple moving average of $332.62. The company has a market capitalization of $1.61 trillion, a PE ratio of 71.41, a P/E/G ratio of 1.20 and a beta of 1.21.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the sale, the insider owned 266,494 shares in the company, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 779,901 shares of company stock valued at $284,069,237. Insiders own 2.00% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVGO shares. Benchmark increased their target price on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Robert W. Baird set a $420.00 price objective on Broadcom in a research note on Friday, December 12th. Truist Financial lifted their target price on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Evercore ISI boosted their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, TD Cowen upped their price target on shares of Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $435.57.

Read Our Latest Report on Broadcom

Broadcom Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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