First Financial Bankshares Inc Acquires Shares of 83,620 Broadcom Inc. (NASDAQ:AVGO)

First Financial Bankshares Inc bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 83,620 shares of the semiconductor manufacturer’s stock, valued at approximately $93,341,000. Broadcom comprises about 2.2% of First Financial Bankshares Inc’s investment portfolio, making the stock its 10th biggest holding.

Other hedge funds have also made changes to their positions in the company. Horizon Family Wealth Inc. raised its position in shares of Broadcom by 1.3% during the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 8 shares during the last quarter. BetterWealth LLC raised its stake in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after buying an additional 9 shares during the last quarter. Sargent Investment Group LLC lifted its holdings in Broadcom by 1.6% in the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after buying an additional 9 shares during the period. Centric Wealth Management boosted its position in Broadcom by 1.6% during the fourth quarter. Centric Wealth Management now owns 579 shares of the semiconductor manufacturer’s stock valued at $646,000 after acquiring an additional 9 shares during the last quarter. Finally, KPP Advisory Services LLC raised its position in shares of Broadcom by 1.9% in the 4th quarter. KPP Advisory Services LLC now owns 479 shares of the semiconductor manufacturer’s stock worth $535,000 after acquiring an additional 9 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom 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 transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was 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 in the company, valued at $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 26,770 shares of company stock worth $36,242,096 in the last quarter. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Mizuho lifted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Melius began coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $1,850.00 price objective on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $1,371.04.

Broadcom Price Performance

NASDAQ AVGO traded up $18.53 during trading hours on Tuesday, reaching $1,459.00. 1,958,393 shares of the stock traded hands, compared to its average volume of 2,780,186. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $1,339.88 and a two-hundred day simple moving average of $1,237.25. Broadcom Inc. has a 1 year low of $795.09 and a 1 year high of $1,465.01. The company has a market cap of $676.13 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17.

Broadcom Company 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.