FARMERS & MERCHANTS TRUST Co OF LONG BEACH Takes $371,000 Position in Broadcom Inc. (NASDAQ:AVGO)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 765 shares of the semiconductor manufacturer’s stock, valued at approximately $371,000.

Several other large investors also recently modified their holdings of AVGO. Tsfg LLC lifted its position in shares of Broadcom by 218.8% in the second quarter. Tsfg LLC now owns 51 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Broadcom in the third quarter valued at $25,000. Vigilant Capital Management LLC lifted its position in shares of Broadcom by 124.0% in the second quarter. Vigilant Capital Management LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 31 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Broadcom by 588.9% in the second quarter. MV Capital Management Inc. now owns 62 shares of the semiconductor manufacturer’s stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. Finally, Red Door Wealth Management LLC purchased a new stake in shares of Broadcom in the second quarter valued at $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

In related news, Director Raul J. Fernandez acquired 151 shares of Broadcom stock in a transaction on Tuesday, September 21st. The shares were purchased at an average cost of $493.49 per share, for a total transaction of $74,516.99. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 9,453 shares of Broadcom stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $502.38, for a total value of $4,748,998.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,271 shares of company stock valued at $12,692,042. 2.40% of the stock is owned by insiders.

Several equities analysts recently commented on AVGO shares. Summit Insights lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Friday, September 3rd. Rosenblatt Securities upped their target price on Broadcom from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, September 3rd. Susquehanna upped their target price on Broadcom from $590.00 to $640.00 and gave the company a “positive” rating in a research note on Wednesday, November 10th. Cowen upped their target price on Broadcom from $478.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, September 3rd. Finally, Summit Redstone lowered Broadcom to a “hold” rating in a research note on Friday, September 3rd. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $563.96.

AVGO traded up $3.61 during trading hours on Thursday, reaching $558.73. 1,208,395 shares of the stock traded hands, compared to its average volume of 1,802,852. Broadcom Inc. has a fifty-two week low of $389.00 and a fifty-two week high of $577.21. The company has a market cap of $229.98 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 1.39 and a beta of 0.93. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23. The firm’s fifty day simple moving average is $521.48 and its two-hundred day simple moving average is $490.79.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.08. Broadcom had a net margin of 22.90% and a return on equity of 44.27%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the company posted $5.40 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 24.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd were paid a dividend of $3.60 per share. The ex-dividend date of this dividend was Tuesday, September 21st. This represents a $14.40 dividend on an annualized basis and a yield of 2.58%. Broadcom’s dividend payout ratio (DPR) is presently 106.82%.

Broadcom Profile

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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