Bangor Savings Bank Has $1.06 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Bangor Savings Bank grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,589 shares of the semiconductor manufacturer’s stock after purchasing an additional 140 shares during the quarter. Bangor Savings Bank’s holdings in Broadcom were worth $1,064,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 216 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho upped their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Benchmark restated a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,128 shares of company stock worth $39,099,840. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.7 %

AVGO stock opened at $236.41 on Tuesday. Broadcom Inc. has a 1-year low of $105.20 and a 1-year high of $251.88. The stock has a market cap of $1.11 trillion, a P/E ratio of 205.40, a P/E/G ratio of 2.15 and a beta of 1.03. The stock’s fifty day simple moving average is $192.56 and its two-hundred day simple moving average is $174.24. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

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.