CHICAGO TRUST Co NA Buys 1,211 Shares of Broadcom Inc. (NASDAQ:AVGO)

CHICAGO TRUST Co NA boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,512 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,211 shares during the quarter. Broadcom makes up approximately 0.8% of CHICAGO TRUST Co NA’s holdings, making the stock its 23rd biggest holding. CHICAGO TRUST Co NA’s holdings in Broadcom were worth $4,756,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom in the 2nd quarter valued at about $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $136,000. Inspire Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $211,000. RiverGlades Family Offices LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $210,000. Finally, Madison Wealth Partners Inc acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $221,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Mizuho raised their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Barclays lifted their price objective on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Price Performance

AVGO stock traded up $1.00 during midday trading on Monday, reaching $225.31. The company had a trading volume of 9,932,934 shares, compared to its average volume of 24,012,330. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 195.75, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The stock has a 50 day moving average price of $196.90 and a 200-day moving average price of $175.71. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities research analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.05%. Broadcom’s payout ratio is presently 191.87%.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

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.