Broadcom Inc. $AVGO Stock Position Lifted by Whittier Trust Co.

Whittier Trust Co. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 776,920 shares of the semiconductor manufacturer’s stock after buying an additional 13,091 shares during the quarter. Broadcom accounts for approximately 3.0% of Whittier Trust Co.’s portfolio, making the stock its 8th largest holding. Whittier Trust Co.’s holdings in Broadcom were worth $262,887,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVGO. Vanguard Group Inc. boosted its holdings in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. State Street Corp increased its position in shares of Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after acquiring an additional 873,963 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 2.1% during 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 purchasing an additional 2,226,585 shares during the period. Norges Bank bought a new stake in shares of Broadcom in the second quarter worth about $18,579,549,000. Finally, Invesco Ltd. raised its position in 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 last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $331.30 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a market capitalization of $1.57 trillion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The firm’s 50 day moving average price is $355.76 and its 200-day moving average price is $337.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVGO shares. UBS Group set a $475.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Broadcom in a research note on Monday, January 5th. Royal Bank Of Canada initiated coverage on shares of Broadcom in a report on Wednesday, January 14th. They issued a “sector perform” rating and a $370.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Broadcom in a report on Thursday, January 15th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and an average target price of $437.28.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the transaction, the director owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 779,901 shares of company stock valued at $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.