Broadcom Inc. $AVGO Stake Increased by Glenview Trust co

Glenview Trust co increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 516,196 shares of the semiconductor manufacturer’s stock after acquiring an additional 19,411 shares during the period. Broadcom comprises approximately 2.5% of Glenview Trust co’s portfolio, making the stock its 8th largest position. Glenview Trust co’s holdings in Broadcom were worth $142,289,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Sawyer & Company Inc increased its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Broadcom in the second quarter worth approximately $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom during the second quarter valued at approximately $28,000. LGT Financial Advisors LLC bought a new position in Broadcom during the second quarter valued at approximately $31,000. Finally, New England Capital Financial Advisors LLC purchased a new position in shares of Broadcom during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 837,433 shares of company stock valued at $303,900,352 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.6%

AVGO opened at $412.97 on Thursday. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. 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 business has a 50 day simple moving average of $361.37 and a two-hundred day simple moving average of $315.84. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 105.35, a PEG ratio of 1.38 and a beta of 1.19.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $435.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Friday, December 5th. Wells Fargo & Company upped their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Sanford C. Bernstein lifted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Truist Financial increased their target price on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Broadcom presently 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.