Greenfield Savings Bank Has $738,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Greenfield Savings Bank boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 29.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,408 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,005 shares during the quarter. Greenfield Savings Bank’s holdings in Broadcom were worth $738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SlateStone Wealth LLC boosted its holdings in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares during the period. True Wealth Design LLC boosted its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after buying an additional 48 shares during the period. DT Investment Partners LLC grew its position in Broadcom by 0.9% during the fourth quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer’s stock worth $1,251,000 after buying an additional 50 shares in the last quarter. Bfsg LLC increased its stake in Broadcom by 12.5% during the 4th quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 50 shares during the period. Finally, Global Strategic Investment Solutions LLC lifted its position in shares of Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock valued at $782,000 after acquiring an additional 50 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Barclays cut their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Bank of America decreased their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $246.00.

Broadcom Price Performance

NASDAQ:AVGO opened at $256.85 on Wednesday. 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 company has a market capitalization of $1.21 trillion, a P/E ratio of 209.50, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $258.90. The business’s 50-day moving average is $198.47 and its 200 day moving average is $204.62.

Broadcom declared that its board has initiated a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Company 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.