First PREMIER Bank Has $197,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

First PREMIER Bank boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 117.9% during the 4th quarter, HoldingsChannel reports. The firm owned 850 shares of the semiconductor manufacturer’s stock after buying an additional 460 shares during the quarter. First PREMIER Bank’s holdings in Broadcom were worth $197,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Echo45 Advisors LLC boosted its holdings in shares of Broadcom by 9.8% during the fourth quarter. Echo45 Advisors LLC now owns 2,675 shares of the semiconductor manufacturer’s stock worth $622,000 after purchasing an additional 238 shares during the period. True North Advisors LLC lifted its position in Broadcom by 143.2% in the 4th quarter. True North Advisors LLC now owns 32,626 shares of the semiconductor manufacturer’s stock worth $7,564,000 after buying an additional 19,212 shares in the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Broadcom by 5.2% during the 4th quarter. Traynor Capital Management Inc. now owns 140,084 shares of the semiconductor manufacturer’s stock valued at $32,477,000 after buying an additional 6,893 shares during the period. Independent Wealth Network Inc. grew its holdings in shares of Broadcom by 14.9% during the 4th quarter. Independent Wealth Network Inc. now owns 2,364 shares of the semiconductor manufacturer’s stock valued at $548,000 after acquiring an additional 306 shares in the last quarter. Finally, Kraft Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth $209,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Truist Financial boosted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho raised their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 1.8 %

Broadcom stock opened at $244.70 on Friday. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The business has a 50 day moving average price of $208.80 and a two-hundred day moving average price of $180.62. 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 issued its 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. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

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.