Parkside Financial Bank & Trust Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Parkside Financial Bank & Trust raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,451 shares of the semiconductor manufacturer’s stock after acquiring an additional 161 shares during the period. Parkside Financial Bank & Trust’s holdings in Broadcom were worth $1,620,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AVGO. Pathway Financial Advisors LLC grew its holdings in Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares in the last quarter. RMR Wealth Builders increased its holdings in shares of Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares during the period. Czech National Bank increased its holdings in shares of Broadcom by 46.1% in the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after purchasing an additional 22,774 shares during the period. Alpha Omega Wealth Management LLC increased its holdings in shares of Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after purchasing an additional 1,704 shares during the period. Finally, CI Investments Inc. increased its holdings in shares of Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO traded up $22.47 during trading on Wednesday, reaching $1,271.66. The company’s stock had a trading volume of 503,407 shares, compared to its average volume of 2,920,639. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company’s fifty day moving average price is $1,304.25 and its 200-day moving average price is $1,128.64. The company has a market capitalization of $589.31 billion, a price-to-earnings ratio of 46.95, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.83 EPS. On average, equities analysts forecast 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. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.65%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVGO. 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. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. UBS Group increased their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

About Broadcom

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.