CHICAGO TRUST Co NA Acquires 17,446 Shares of Broadcom Inc. (NASDAQ:AVGO)

CHICAGO TRUST Co NA boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 940.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,301 shares of the semiconductor manufacturer’s stock after buying an additional 17,446 shares during the period. CHICAGO TRUST Co NA’s holdings in Broadcom were worth $3,329,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FOCUS Wealth Advisors LLC lifted its stake in shares of Broadcom by 900.0% in the third quarter. FOCUS Wealth Advisors LLC now owns 5,060 shares of the semiconductor manufacturer’s stock valued at $873,000 after buying an additional 4,554 shares during the period. Exchange Traded Concepts LLC raised its holdings in Broadcom by 1,316.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 30,444 shares of the semiconductor manufacturer’s stock valued at $5,252,000 after acquiring an additional 28,294 shares in the last quarter. Compton Wealth Advisory Group LLC lifted its position in shares of Broadcom by 936.6% in the 3rd quarter. Compton Wealth Advisory Group LLC now owns 34,922 shares of the semiconductor manufacturer’s stock worth $6,024,000 after acquiring an additional 31,553 shares during the period. Carnegie Investment Counsel grew its holdings in shares of Broadcom by 944.4% during the 3rd quarter. Carnegie Investment Counsel now owns 187,341 shares of the semiconductor manufacturer’s stock worth $32,316,000 after purchasing an additional 169,403 shares in the last quarter. Finally, Retirement Planning Group LLC increased its position in shares of Broadcom by 797.5% during the third quarter. Retirement Planning Group LLC now owns 2,136 shares of the semiconductor manufacturer’s stock valued at $368,000 after purchasing an additional 1,898 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock opened at $181.48 on Friday. The firm has a market cap of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $162.91 and a 200 day moving average price of $151.64.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.19%.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 295,130 shares of company stock valued at $50,646,622 over the last three months. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. UBS Group decreased their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.29.

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.