Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Tompkins Financial Corp

Tompkins Financial Corp lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,073 shares of the semiconductor manufacturer’s stock after purchasing an additional 73 shares during the quarter. Tompkins Financial Corp’s holdings in Broadcom were worth $180,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC raised its holdings in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Destiny Wealth Partners LLC boosted its position in Broadcom by 1,211.3% during the fourth quarter. Destiny Wealth Partners LLC now owns 27,013 shares of the semiconductor manufacturer’s stock worth $6,263,000 after purchasing an additional 24,953 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in Broadcom by 36.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 634,112 shares of the semiconductor manufacturer’s stock valued at $149,017,000 after purchasing an additional 168,774 shares during the last quarter. Finally, Kovack Advisors Inc. increased its position in shares of Broadcom by 8.1% in the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after buying an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AVGO shares. Redburn Atlantic started coverage on shares of Broadcom in a research report on Wednesday. They issued a “buy” rating and a $301.00 price objective on the stock. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Bank of America lowered their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $236.27.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 1.1%

NASDAQ AVGO opened at $241.97 on Friday. The company’s fifty day simple moving average is $194.36 and its 200-day simple moving average is $202.79. The stock has a market cap of $1.14 trillion, a P/E ratio of 197.37, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.