OLD Second National Bank of Aurora Has $16.63 Million Stock Holdings in Broadcom Inc. $AVGO

OLD Second National Bank of Aurora decreased its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,733 shares of the semiconductor manufacturer’s stock after selling 1,782 shares during the period. Broadcom accounts for 3.4% of OLD Second National Bank of Aurora’s holdings, making the stock its 4th biggest position. OLD Second National Bank of Aurora’s holdings in Broadcom were worth $16,631,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. boosted its position in shares of Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares in the last quarter. State Street Corp grew its stake in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVGO shares. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Susquehanna reiterated a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Read Our Latest Analysis on Broadcom

Broadcom Stock Up 2.0%

Broadcom stock opened at $372.45 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The business’s 50-day simple moving average is $411.18 and its two-hundred day simple moving average is $362.85. The company has a market cap of $1.77 trillion, a PE ratio of 62.08, a PEG ratio of 0.64 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the sale, the insider owned 65,932 shares in the company, valued at $23,215,975.84. The trade was a 20.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,385 shares of company stock worth $21,301,057 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

About Broadcom

(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.

Further Reading

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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