Tompkins Financial Corp Sells 150 Shares of Broadcom Inc. (NASDAQ:AVGO)

Tompkins Financial Corp lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,000 shares of the semiconductor manufacturer’s stock after selling 150 shares during the period. Tompkins Financial Corp’s holdings in Broadcom were worth $232,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AVGO. Kades & Cheifetz LLC raised its position in Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after purchasing an additional 51 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Broadcom by 0.5% in the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after purchasing an additional 52 shares during the last quarter. HCR Wealth Advisors raised its holdings in shares of Broadcom by 0.4% during the 4th quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer’s stock worth $2,857,000 after buying an additional 53 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after buying an additional 59 shares during the last quarter. Finally, Meyer Handelman Co. grew its position in Broadcom by 2.0% in the fourth quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock valued at $712,000 after acquiring an additional 59 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO stock opened at $237.44 on Friday. The firm has a market cap of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $202.01 and a 200-day moving average price of $178.14. Broadcom Inc. has a 1-year low of $112.19 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 for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Insider Activity

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

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.