Broadcom Inc. $AVGO Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479,863 shares of the semiconductor manufacturer’s stock after selling 4,308 shares during the period. Broadcom makes up 2.3% of UMB Bank n.a.’s investment portfolio, making the stock its 8th largest holding. UMB Bank n.a.’s holdings in Broadcom were worth $158,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AVGO. Vanguard Group Inc. increased its position in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the period. State Street Corp boosted its holdings in shares of Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after acquiring an additional 873,963 shares during the period. Geode Capital Management LLC grew its position in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after acquiring an additional 2,226,585 shares during the last quarter. Norges Bank acquired a new position in shares of Broadcom in the 2nd quarter valued at $18,579,549,000. Finally, Invesco Ltd. raised its position in Broadcom by 8.4% in the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after purchasing an additional 2,978,768 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the transaction, the insider directly owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the sale, the insider owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 779,901 shares of company stock valued at $284,069,237 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.8%

AVGO opened at $310.51 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 65.23, a P/E/G ratio of 0.99 and a beta of 1.21. The business has a 50 day simple moving average of $350.00 and a 200-day simple moving average of $338.20.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. Broadcom’s revenue was up 28.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVGO. Citigroup reissued a “buy” rating on shares of Broadcom in a research report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Rosenblatt Securities upped their price objective on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 price objective (up from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, Bank of America boosted their target price on Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $437.28.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.