HTLF Bank Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

HTLF Bank purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,385 shares of the semiconductor manufacturer’s stock, valued at approximately $11,592,000. Broadcom makes up 1.4% of HTLF Bank’s investment portfolio, making the stock its 17th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Lafayette Investments Inc. grew its holdings in Broadcom by 8.7% during the 4th quarter. Lafayette Investments Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $349,000 after purchasing an additional 25 shares in the last quarter. Kellett Wealth Advisors LLC acquired a new position in Broadcom during the 4th quarter worth $291,000. Colton Groome Financial Advisors LLC grew its holdings in Broadcom by 18.1% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,055 shares of the semiconductor manufacturer’s stock worth $2,294,000 after acquiring an additional 315 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in Broadcom by 20.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,176 shares of the semiconductor manufacturer’s stock worth $3,545,000 after acquiring an additional 536 shares in the last quarter. Finally, Western Wealth Management LLC grew its holdings in Broadcom by 2.0% during the 4th quarter. Western Wealth Management LLC now owns 10,500 shares of the semiconductor manufacturer’s stock worth $11,721,000 after acquiring an additional 207 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $29.46 during midday trading on Friday, reaching $1,229.53. The company’s stock had a trading volume of 831,197 shares, compared to its average volume of 2,918,740. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average price of $1,306.69 and a 200 day moving average price of $1,116.18. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a market cap of $569.79 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $9.83 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVGO shares. Cantor Fitzgerald raised their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Mizuho lifted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.