Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Peoples Financial Services CORP.

Peoples Financial Services CORP. boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 871.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,110 shares of the semiconductor manufacturer’s stock after buying an additional 35,083 shares during the quarter. Broadcom makes up 3.1% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 5th largest holding. Peoples Financial Services CORP.’s holdings in Broadcom were worth $6,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of AVGO. Swedbank AB grew its holdings in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Broadcom by 826.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after purchasing an additional 2,643,845 shares during the period. Vanguard Group Inc. increased its position in shares of Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, Guinness Asset Management LTD boosted its holdings in shares of Broadcom by 937.1% in the 3rd quarter. Guinness Asset Management LTD now owns 1,331,971 shares of the semiconductor manufacturer’s stock worth $229,755,000 after buying an additional 1,203,544 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.5 %

AVGO opened at $176.82 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42. The firm has a market capitalization of $823.08 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company has a fifty day moving average price of $165.17 and a 200-day moving average price of $152.58.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

Analysts Set New Price Targets

Several brokerages have commented on AVGO. Truist Financial lifted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Mizuho raised their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.54.

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.