Oakworth Capital Inc. Has $1.31 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Oakworth Capital Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,176 shares of the semiconductor manufacturer’s stock after acquiring an additional 70 shares during the quarter. Oakworth Capital Inc.’s holdings in Broadcom were worth $1,313,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Cantor Fitzgerald Investment Advisor L.P increased its position in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. boosted its stake in shares of Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after purchasing an additional 420 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at $1,095,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock traded down $43.56 during midday trading on Wednesday, reaching $1,285.50. 1,419,192 shares of the company were exchanged, compared to its average volume of 2,939,318. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business has a 50-day moving average price of $1,306.49 and a two-hundred day moving average price of $1,114.01. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market capitalization of $595.73 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm earned $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVGO shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Evercore ISI began coverage on Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Company Profile

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.