QS Investors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,797 shares of the semiconductor manufacturer’s stock after selling 1,573 shares during the quarter. QS Investors LLC’s holdings in Broadcom were worth $3,718,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waycross Partners LLC increased its position in Broadcom by 1,239.0% during the second quarter. Waycross Partners LLC now owns 36,154 shares of the semiconductor manufacturer’s stock worth $155,225,000 after buying an additional 33,454 shares during the period. Dai Ichi Life Insurance Company Ltd increased its holdings in shares of Broadcom by 75.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 38,373 shares of the semiconductor manufacturer’s stock valued at $18,298,000 after purchasing an additional 16,517 shares during the period. LPL Financial LLC increased its holdings in shares of Broadcom by 9.0% in the second quarter. LPL Financial LLC now owns 224,162 shares of the semiconductor manufacturer’s stock valued at $106,889,000 after purchasing an additional 18,507 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Broadcom by 40.2% in the second quarter. CAPROCK Group Inc. now owns 4,979 shares of the semiconductor manufacturer’s stock valued at $2,374,000 after purchasing an additional 1,428 shares during the period. Finally, BancorpSouth Bank increased its holdings in shares of Broadcom by 1.5% in the second quarter. BancorpSouth Bank now owns 22,873 shares of the semiconductor manufacturer’s stock valued at $10,907,000 after purchasing an additional 332 shares during the period. 80.28% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the company. Susquehanna reissued a “positive” rating and issued a $590.00 target price (up previously from $580.00) on shares of Broadcom in a report on Friday, September 3rd. JPMorgan Chase & Co. upped their price objective on Broadcom from $585.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, September 3rd. BMO Capital Markets upped their price objective on Broadcom from $550.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Citigroup reaffirmed a “buy” rating and set a $585.00 price objective (up previously from $528.00) on shares of Broadcom in a report on Friday, September 3rd. Finally, Summit Redstone lowered Broadcom to a “hold” rating in a report on Friday, September 3rd. Five analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $549.52.
NASDAQ AVGO opened at $485.01 on Thursday. The business’s 50-day moving average price is $490.87 and its 200 day moving average price is $475.59. Broadcom Inc. has a twelve month low of $344.42 and a twelve month high of $510.70. The company has a market capitalization of $199.64 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92. The company has a current ratio of 2.41, a quick ratio of 2.23 and a debt-to-equity ratio of 1.65.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.08. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.76 billion. Broadcom had a return on equity of 44.27% and a net margin of 22.90%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 earnings per share. Equities analysts predict that Broadcom Inc. will post 24.42 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd were paid a dividend of $3.60 per share. The ex-dividend date was Tuesday, September 21st. This represents a $14.40 annualized dividend and a yield of 2.97%. Broadcom’s dividend payout ratio is presently 78.05%.
Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.
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