First Hawaiian Bank Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

First Hawaiian Bank trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,752 shares of the semiconductor manufacturer’s stock after selling 1,097 shares during the quarter. First Hawaiian Bank’s holdings in Broadcom were worth $4,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. MRP Capital Investments LLC lifted its stake in Broadcom by 60.0% during the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 21 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $39,000. Sageworth Trust Co purchased a new stake in Broadcom during the first quarter worth approximately $39,000. VitalStone Financial LLC lifted its stake in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the last quarter. Finally, Osterweis Capital Management Inc. lifted its stake in Broadcom by 400.0% during the fourth quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC boosted their target price on Broadcom from $33.00 to $44.00 in a research note on Friday, September 1st. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Wells Fargo & Company boosted their target price on Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Friday, September 1st. Oppenheimer upped their price objective on Broadcom from $900.00 to $990.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Finally, Piper Sandler upped their price objective on Broadcom from $830.00 to $925.00 and gave the stock an “overweight” rating in a report on Tuesday, August 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $846.14.

Insider Activity at Broadcom

In other Broadcom news, Director Check Kian Low acquired 11,000 shares of Broadcom stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the purchase, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eddy W. Hartenstein sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the sale, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The stock was 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 directly owns 15,951 shares in the company, valued at $13,909,750.53. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate insiders.

Broadcom Trading Up 2.2 %

AVGO stock opened at $871.64 on Friday. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $923.67. The firm has a market cap of $359.76 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.79 and a beta of 1.10. The business’s 50 day moving average is $874.48 and its 200-day moving average is $758.55. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, topping the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same period in the previous year, the business earned $9.07 EPS. Broadcom’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be given a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s dividend payout ratio is currently 56.58%.

About Broadcom

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.