Citizens & Northern Corp Invests $278,000 in Broadcom Inc. (NASDAQ:AVGO)

Citizens & Northern Corp bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The fund bought 1,200 shares of the semiconductor manufacturer’s stock, valued at approximately $278,000.

A number of other large investors have also recently bought and sold shares of the company. Empower Advisory Group LLC boosted its position in Broadcom by 40.3% in the fourth quarter. Empower Advisory Group LLC now owns 341,753 shares of the semiconductor manufacturer’s stock valued at $79,232,000 after buying an additional 98,096 shares during the last quarter. Truist Financial Corp boosted its position in Broadcom by 0.7% in the fourth quarter. Truist Financial Corp now owns 2,915,323 shares of the semiconductor manufacturer’s stock valued at $675,889,000 after buying an additional 20,986 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in Broadcom by 3.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 64,235 shares of the semiconductor manufacturer’s stock valued at $14,892,000 after buying an additional 2,335 shares during the last quarter. Cutler Investment Counsel LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $239,000. Finally, Highview Capital Management LLC DE boosted its position in Broadcom by 1.3% in the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer’s stock valued at $5,917,000 after buying an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Down 0.8 %

NASDAQ AVGO opened at $226.89 on Friday. The business has a fifty day moving average price of $230.21 and a 200 day moving average price of $189.26. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $1.06 trillion, a P/E ratio of 185.06, a P/E/G ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.04%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is 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.