Bridges Investment Management Inc. boosted its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 1.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,456 shares of the semiconductor manufacturer’s stock after acquiring an additional 83 shares during the period. Bridges Investment Management Inc.’s holdings in Broadcom were worth $1,941,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Oregon Public Employees Retirement Fund grew its holdings in Broadcom by 26,295.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after acquiring an additional 11,904,869 shares during the period. Norges Bank acquired a new stake in Broadcom during the 4th quarter worth $1,055,582,000. Vanguard Group Inc grew its holdings in Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after acquiring an additional 2,094,847 shares during the period. Thornburg Investment Management Inc. grew its holdings in Broadcom by 85.2% during the 4th quarter. Thornburg Investment Management Inc. now owns 825,050 shares of the semiconductor manufacturer’s stock worth $209,794,000 after acquiring an additional 379,637 shares during the period. Finally, FMR LLC grew its holdings in Broadcom by 3.8% during the 4th quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after acquiring an additional 374,911 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.
AVGO opened at $311.57 on Tuesday. The firm has a market capitalization of $124.97 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.47 and a beta of 0.68. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $323.20. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating the consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.12 EPS. As a group, equities analysts forecast that Broadcom Inc will post 17.65 EPS for the current year.
In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $291.27, for a total value of $5,825,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $295.05, for a total transaction of $2,950,500.00. The disclosure for this sale can be found here. Insiders sold a total of 87,824 shares of company stock worth $26,390,919 over the last ninety days. 3.30% of the stock is currently owned by insiders.
A number of research firms have commented on AVGO. KeyCorp lifted their target price on shares of Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. BidaskClub lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Mizuho boosted their price target on shares of Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Zacks Investment Research lowered shares of Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $303.41.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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