Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Missouri Trust & Investment Co

Posted by Defense World Staff on Sep 10th, 2023

Missouri Trust & Investment Co lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 340 shares of the semiconductor manufacturer’s stock after selling 18 shares during the quarter. Missouri Trust & Investment Co’s holdings in Broadcom were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AVGO. Rosenberg Matthew Hamilton lifted its holdings in Broadcom by 3.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after purchasing an additional 16 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in Broadcom by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock worth $367,000 after purchasing an additional 16 shares during the last quarter. ETF Managers Group LLC lifted its holdings in Broadcom by 1.5% in the 1st quarter. ETF Managers Group LLC now owns 1,164 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 17 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in Broadcom by 0.5% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,125 shares of the semiconductor manufacturer’s stock worth $2,005,000 after purchasing an additional 17 shares during the last quarter. Finally, Park Place Capital Corp increased its position in Broadcom by 2.7% in the 1st quarter. Park Place Capital Corp now owns 636 shares of the semiconductor manufacturer’s stock worth $408,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low bought 11,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. TD Cowen lifted their price target on Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. Truist Financial lifted their price target on Broadcom from $942.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $950.00 price target on shares of Broadcom in a research report on Friday, September 1st. Susquehanna lifted their price target on Broadcom from $910.00 to $1,010.00 and gave the stock a “positive” rating in a research report on Thursday, August 24th. Finally, BMO Capital Markets lifted their price target on Broadcom from $890.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

Read Our Latest Analysis on Broadcom

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $857.55 on Friday. The business’s fifty day moving average price is $875.64 and its two-hundred day moving average price is $752.82. Broadcom Inc. has a fifty-two week low of $415.07 and a fifty-two week high of $923.67. The stock has a market capitalization of $353.94 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.13.

Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.07 earnings per share. As a group, analysts predict that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be paid a dividend of $4.60 per share. This represents a $18.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Broadcom Profile

(Free Report)

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.