Union Bankshares Corp Has $5.42 Million Position in Broadcom Inc (AVGO)

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Union Bankshares Corp lifted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,314 shares of the semiconductor manufacturer’s stock after acquiring an additional 325 shares during the period. Broadcom accounts for approximately 1.8% of Union Bankshares Corp’s portfolio, making the stock its 17th biggest holding. Union Bankshares Corp’s holdings in Broadcom were worth $5,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Accurate Investment Solutions Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at $25,000. Cohen & Steers Inc. acquired a new stake in Broadcom in the 3rd quarter worth about $52,000. Patten Group Inc. boosted its stake in Broadcom by 125.5% in the 3rd quarter. Patten Group Inc. now owns 521 shares of the semiconductor manufacturer’s stock worth $129,000 after buying an additional 290 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Broadcom in the 3rd quarter worth about $130,000. Finally, CWM LLC boosted its stake in Broadcom by 160.7% in the 3rd quarter. CWM LLC now owns 644 shares of the semiconductor manufacturer’s stock worth $159,000 after buying an additional 397 shares during the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AVGO traded down $3.09 during mid-day trading on Monday, hitting $247.48. 8,739 shares of the company traded hands, compared to its average volume of 4,325,487. The company has a market cap of $100.30 billion, a P/E ratio of 13.15, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $273.85.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating the consensus estimate of $5.58 by $0.27. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $4.59 EPS. Analysts predict that Broadcom Inc will post 18.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Wednesday, December 19th were issued a dividend of $2.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Tuesday, December 18th. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

In other Broadcom news, SVP Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total transaction of $2,591,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,723 shares of company stock worth $19,826,374. Company insiders own 3.30% of the company’s stock.

AVGO has been the topic of a number of research analyst reports. Nomura raised Broadcom from a “neutral” rating to a “buy” rating and raised their price target for the stock from $225.00 to $300.00 in a research note on Monday, September 17th. BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Piper Jaffray Companies set a $293.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Mizuho reissued a “buy” rating on shares of Broadcom in a research note on Friday, October 5th. Finally, JPMorgan Chase & Co. initiated coverage on Broadcom in a research note on Thursday, November 8th. They issued an “overweight” rating and a $325.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $288.93.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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