Fidelity D & D Bancorp Inc. Has $1.31 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Fidelity D & D Bancorp Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 900.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,610 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,849 shares during the period. Broadcom accounts for about 0.9% of Fidelity D & D Bancorp Inc.’s investment portfolio, making the stock its 25th biggest holding. Fidelity D & D Bancorp Inc.’s holdings in Broadcom were worth $1,313,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AXA S.A. raised its position in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the period. Catalyst Financial Partners LLC grew its stake in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares during the last quarter. Strait & Sound Wealth Management LLC raised its holdings in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares during the period. Whittier Trust Co. lifted its position in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after acquiring an additional 623,983 shares during the last quarter. Finally, Summit Place Financial Advisors LLC lifted its position in Broadcom by 912.6% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after acquiring an additional 8,834 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ:AVGO traded up $34.80 on Friday, reaching $215.46. The stock had a trading volume of 22,821,842 shares, compared to its average volume of 29,001,701. The company has a market capitalization of $1.01 trillion, a P/E ratio of 156.96, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The stock has a fifty day moving average price of $173.65 and a 200-day moving average price of $163.86. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $217.81.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the company earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.10%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.19%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday. Citigroup upped their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.08.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

About Broadcom

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.