Iowa State Bank Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Iowa State Bank grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,409 shares of the semiconductor manufacturer’s stock after acquiring an additional 155 shares during the period. Iowa State Bank’s holdings in Broadcom were worth $4,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Richardson Financial Services Inc. raised its position in Broadcom by 2.4% during the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after buying an additional 59 shares during the period. Delta Investment Management LLC grew its stake in Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Broadcom by 6.2% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after purchasing an additional 67 shares during the period. Decatur Capital Management Inc. lifted its position in shares of Broadcom by 2.2% in the second quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock worth $5,083,000 after purchasing an additional 68 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Broadcom by 11.3% during the second quarter. Kathmere Capital Management LLC now owns 672 shares of the semiconductor manufacturer’s stock worth $1,079,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,128 shares of company stock valued at $29,820,640 over the last quarter. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Susquehanna lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Cantor Fitzgerald upped their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Broadcom Stock Performance

AVGO stock traded up $3.00 during trading on Monday, reaching $235.55. 18,747,366 shares of the stock were exchanged, compared to its average volume of 24,904,451. The stock has a 50 day simple moving average of $191.27 and a 200-day simple moving average of $173.87. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.10 trillion, a P/E ratio of 204.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a twelve month low of $105.20 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is 191.87%.

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.