Whittier Trust Co. of Nevada Inc. Has $109.49 Million Holdings in Broadcom Inc. $AVGO

Whittier Trust Co. of Nevada Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 323,587 shares of the semiconductor manufacturer’s stock after buying an additional 10,786 shares during the period. Broadcom comprises about 2.3% of Whittier Trust Co. of Nevada Inc.’s investment portfolio, making the stock its 7th biggest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Broadcom were worth $109,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after buying an additional 756 shares during the period. United Bank increased its stake in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Capital Insight Partners LLC lifted its stake in Broadcom by 145.7% in the second quarter. Capital Insight Partners LLC now owns 15,524 shares of the semiconductor manufacturer’s stock worth $4,279,000 after acquiring an additional 9,205 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the transaction, the director directly owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of Broadcom stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the sale, the insider directly owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 779,901 shares of company stock worth $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on AVGO shares. Mizuho set a $480.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a report on Friday, January 9th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Bank of America lifted their price objective on Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, December 12th. TD Cowen reissued a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Finally, KeyCorp restated an “overweight” rating and issued a $500.00 target price (up previously from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average target price of $437.28.

Broadcom Stock Up 0.2%

AVGO stock opened at $331.30 on Friday. The business has a 50 day moving average of $355.76 and a 200 day moving average of $337.24. The firm has a market cap of $1.57 trillion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s dividend payout ratio is presently 54.62%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.