Central Pacific Bank Trust Division Has $4.86 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Central Pacific Bank Trust Division grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,955 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,707 shares during the quarter. Broadcom comprises approximately 0.6% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 24th largest position. Central Pacific Bank Trust Division’s holdings in Broadcom were worth $4,858,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NCP Inc. increased its stake in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares in the last quarter. Stablepoint Partners LLC raised its holdings in shares of Broadcom by 643.4% during the second quarter. Stablepoint Partners LLC now owns 52,533 shares of the semiconductor manufacturer’s stock worth $84,343,000 after acquiring an additional 45,466 shares during the period. Mattern Capital Management LLC lifted its position in Broadcom by 4.6% in the 2nd quarter. Mattern Capital Management LLC now owns 5,031 shares of the semiconductor manufacturer’s stock valued at $8,077,000 after acquiring an additional 220 shares in the last quarter. Birchcreek Wealth Management LLC acquired a new position in Broadcom in the 2nd quarter worth $233,000. Finally, Commons Capital LLC increased its holdings in Broadcom by 8.2% during the 2nd quarter. Commons Capital LLC now owns 2,009 shares of the semiconductor manufacturer’s stock worth $3,225,000 after purchasing an additional 152 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. Mizuho upped their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Price Performance

Shares of Broadcom stock traded up $2.02 during midday trading on Friday, hitting $234.00. 14,411,196 shares of the company traded hands, compared to its average volume of 22,811,281. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 203.30, a PEG ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s fifty day moving average price is $190.08 and its 200-day moving average price is $173.46. Broadcom Inc. has a 12 month low of $104.15 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,408 shares of company stock valued at $33,412,228 in the last three months. Insiders own 2.00% of the company’s stock.

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.