New Hampshire Trust Acquires 65 Shares of Broadcom Inc. (NASDAQ:AVGO)

New Hampshire Trust boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,927 shares of the semiconductor manufacturer’s stock after purchasing an additional 65 shares during the quarter. New Hampshire Trust’s holdings in Broadcom were worth $3,406,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVGO. Kozak & Associates Inc. grew its position in Broadcom by 4.3% during the second quarter. Kozak & Associates Inc. now owns 292 shares of the semiconductor manufacturer’s stock worth $256,000 after buying an additional 12 shares in the last quarter. Armstrong Advisory Group Inc. grew its position in Broadcom by 13.0% during the second quarter. Armstrong Advisory Group Inc. now owns 113 shares of the semiconductor manufacturer’s stock worth $98,000 after buying an additional 13 shares in the last quarter. Verity Asset Management Inc. grew its position in Broadcom by 3.0% during the first quarter. Verity Asset Management Inc. now owns 509 shares of the semiconductor manufacturer’s stock worth $327,000 after buying an additional 15 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Broadcom by 3.1% during the first quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after buying an additional 16 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its position in Broadcom by 2.9% during the first quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock worth $367,000 after buying an additional 16 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Mizuho raised their target price on Broadcom from $840.00 to $960.00 in a report on Friday, September 1st. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Needham & Company LLC raised their target price on Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. Rosenblatt Securities lifted their price objective on Broadcom from $900.00 to $1,000.00 in a research report on Friday, September 1st. Finally, Susquehanna lifted their price objective on Broadcom from $910.00 to $1,010.00 and gave the stock a “positive” rating in a research report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $846.14.

Broadcom Price Performance

Shares of Broadcom stock traded down $19.96 during trading on Friday, hitting $851.68. The stock had a trading volume of 5,018,958 shares, compared to its average volume of 2,511,156. The firm has a market cap of $351.52 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.79 and a beta of 1.10. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $923.67. The business’s 50-day moving average is $875.05 and its 200 day moving average is $762.35. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.43 by $0.11. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.85 billion. During the same period in the previous year, the business earned $9.07 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 37.88 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $18.40 annualized dividend and a yield of 2.16%. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Insider Buying and Selling at Broadcom

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

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.