Whittier Trust Co. of Nevada Inc. Has $109.49 Million Holdings in Broadcom Inc. $AVGO

Whittier Trust Co. of Nevada Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 323,587 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,786 shares during the quarter. Broadcom makes up approximately 2.3% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 7th biggest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Broadcom were worth $109,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. State Street Corp lifted its position in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after acquiring an additional 873,963 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after acquiring an additional 2,226,585 shares during the period. Norges Bank purchased a new position in shares of Broadcom in the second quarter valued at $18,579,549,000. Finally, Invesco Ltd. raised its stake in shares of Broadcom by 8.4% during the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after purchasing an additional 2,978,768 shares during the period. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America raised their target price on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Benchmark raised their price objective on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 target price on shares of Broadcom in a report on Monday, January 5th. Morgan Stanley raised their price target on shares of Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $437.28.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 70,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the completion of the sale, the chief executive officer owned 132,836 shares of the company’s stock, valued at approximately $46,133,942.80. This represents a 34.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 30,000 shares of Broadcom stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares in the company, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 779,901 shares of company stock worth $284,069,237 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.2%

AVGO opened at $331.30 on Friday. The business’s fifty day simple moving average is $355.76 and its 200 day simple moving average is $337.24. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.57 trillion, a PE ratio of 69.60, a P/E/G ratio of 1.10 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is 54.62%.

Broadcom Profile

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.