United Community Bank Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

United Community Bank boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,425 shares of the semiconductor manufacturer’s stock after buying an additional 210 shares during the period. United Community Bank’s holdings in Broadcom were worth $1,258,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday. Citigroup increased 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. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday. Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday. Finally, Truist Financial increased their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 8.6 %

AVGO opened at $194.96 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The business has a fifty day simple moving average of $222.28 and a 200-day simple moving average of $192.93. The firm has a market cap of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 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.