First National Trust Co Sells 10,446 Shares of Broadcom Inc. (NASDAQ:AVGO)

First National Trust Co reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 210,670 shares of the semiconductor manufacturer’s stock after selling 10,446 shares during the period. Broadcom makes up about 1.8% of First National Trust Co’s portfolio, making the stock its 12th biggest position. First National Trust Co’s holdings in Broadcom were worth $48,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC lifted its holdings in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Motive Wealth Advisors raised its holdings in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after acquiring an additional 350,485 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. 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 note on Friday, December 13th. Finally, Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Down 1.5 %

Shares of Broadcom stock opened at $191.36 on Friday. The business’s fifty day moving average price is $218.86 and its two-hundred day moving average price is $193.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $899.76 billion, a P/E ratio of 156.09, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for 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%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is 113.46%.

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.