OLD National Bancorp IN Buys 310 Shares of Broadcom Inc. (NASDAQ:AVGO)

OLD National Bancorp IN raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,278 shares of the semiconductor manufacturer’s stock after purchasing an additional 310 shares during the period. OLD National Bancorp IN’s holdings in Broadcom were worth $2,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVGO. BetterWealth LLC raised its holdings in shares of Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after buying an additional 9 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of Broadcom by 33.3% during 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 in the last quarter. CX Institutional raised its holdings in shares of Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after buying an additional 10 shares in the last quarter. Cascade Investment Group Inc. raised its holdings in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 10 shares in the last quarter. Finally, Sabal Trust CO raised its holdings in shares of Broadcom by 1.6% during the 4th quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 1.6 %

Broadcom stock opened at $1,224.46 on Tuesday. 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 business’s fifty day simple moving average is $1,304.30 and its two-hundred day simple moving average is $1,125.79. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a market capitalization of $567.44 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the company posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction on 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 in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now 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 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by 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.