German American Bancorp Inc. Purchases 1,714 Shares of Broadcom Inc. $AVGO

German American Bancorp Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,511 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,714 shares during the quarter. Broadcom makes up approximately 1.4% of German American Bancorp Inc.’s holdings, making the stock its 17th biggest position. German American Bancorp Inc.’s holdings in Broadcom were worth $14,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sawyer & Company Inc increased its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the second quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom in the second quarter valued at about $28,000. LGT Financial Advisors LLC bought a new stake in Broadcom during the second quarter worth about $31,000. Finally, New England Capital Financial Advisors LLC acquired a new position in Broadcom during the second quarter valued at approximately $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares of the company’s stock, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 837,433 shares of company stock valued at $303,900,352. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $412.97 on Thursday. The firm’s fifty day moving average price is $361.37 and its two-hundred day moving average price is $315.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market cap of $1.95 trillion, a P/E ratio of 105.35, a P/E/G ratio of 1.38 and a beta of 1.19. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AVGO shares. Citigroup reaffirmed a “buy” rating and set a $415.00 price target (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Truist Financial raised their target price on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $443.00 price target (up from $409.00) on shares of Broadcom in a research report on Monday, December 1st. Mizuho set a $435.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $392.46.

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.