OLD Second National Bank of Aurora Sells 399 Shares of Broadcom Inc. (NASDAQ:AVGO)

OLD Second National Bank of Aurora lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,381 shares of the semiconductor manufacturer’s stock after selling 399 shares during the quarter. Broadcom comprises 2.0% of OLD Second National Bank of Aurora’s portfolio, making the stock its 10th largest position. OLD Second National Bank of Aurora’s holdings in Broadcom were worth $7,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. grew its holdings in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after buying an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Broadcom in the 1st quarter worth approximately $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Shares of Broadcom stock traded up $1.24 during midday trading on Thursday, reaching $1,283.87. The company had a trading volume of 643,428 shares, compared to its average volume of 2,922,910. 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 market capitalization of $594.97 billion, a price-to-earnings ratio of 47.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The stock has a fifty day simple moving average of $1,307.00 and a 200 day simple moving average of $1,115.19. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

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.