HTLF Bank Makes New $11.59 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

HTLF Bank purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,385 shares of the semiconductor manufacturer’s stock, valued at approximately $11,592,000. Broadcom makes up approximately 1.4% of HTLF Bank’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group bought a new position in Broadcom in the 4th quarter valued at approximately $30,000. Macroview Investment Management LLC bought a new position in Broadcom in the 3rd quarter valued at approximately $29,000. PrairieView Partners LLC raised its holdings in Broadcom by 178.6% in the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC raised its holdings in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 2.3 %

NASDAQ AVGO traded down $29.46 during mid-day trading on Friday, hitting $1,229.53. The company’s stock had a trading volume of 831,197 shares, compared to its average volume of 2,918,740. The company’s 50 day simple moving average is $1,306.69 and its 200 day simple moving average is $1,116.18. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $569.79 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm posted $9.83 EPS. Analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

Broadcom 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.