Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Boosted by Intrua Financial LLC

Intrua Financial LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,427 shares of the semiconductor manufacturer’s stock after purchasing an additional 200 shares during the quarter. Intrua Financial LLC’s holdings in Broadcom were worth $1,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Probity Advisors Inc. boosted its stake in Broadcom by 7.4% during the 2nd quarter. Probity Advisors Inc. now owns 2,190 shares of the semiconductor manufacturer’s stock valued at $1,064,000 after purchasing an additional 151 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Broadcom by 2.9% during the 2nd quarter. Capital Analysts LLC now owns 13,752 shares of the semiconductor manufacturer’s stock valued at $6,681,000 after acquiring an additional 392 shares during the last quarter. Pier 88 Investment Partners LLC lifted its position in shares of Broadcom by 140.0% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 2,160 shares of the semiconductor manufacturer’s stock valued at $1,049,000 after acquiring an additional 1,260 shares during the last quarter. Smith Moore & CO. lifted its position in shares of Broadcom by 13.2% during the 2nd quarter. Smith Moore & CO. now owns 583 shares of the semiconductor manufacturer’s stock valued at $283,000 after acquiring an additional 68 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in shares of Broadcom by 33.1% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 8,297 shares of the semiconductor manufacturer’s stock valued at $4,031,000 after acquiring an additional 2,062 shares during the last quarter. 79.60% of the stock is owned by institutional investors.

Broadcom Stock Up 0.7 %

Shares of NASDAQ:AVGO traded up $3.59 during midday trading on Thursday, hitting $533.64. 1,396,717 shares of the stock were exchanged, compared to its average volume of 2,229,935. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32. The company has a market capitalization of $216.12 billion, a PE ratio of 23.08, a P/E/G ratio of 0.95 and a beta of 1.08. Broadcom Inc. has a 52-week low of $415.07 and a 52-week high of $677.76. The business’s fifty day simple moving average is $472.86 and its two-hundred day simple moving average is $508.82.

Broadcom (NASDAQ:AVGOGet Rating) last posted its earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.07 EPS for the quarter, topping the consensus estimate of $8.84 by $0.23. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted $6.32 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 34.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were given a dividend of $4.10 per share. This represents a $16.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, September 21st. Broadcom’s payout ratio is 70.93%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Susquehanna reiterated a “buy” rating and set a $680.00 price objective on shares of Broadcom in a research report on Friday, September 2nd. Robert W. Baird reiterated an “outperform” rating and set a $700.00 price objective on shares of Broadcom in a research report on Tuesday, September 6th. BMO Capital Markets cut their price objective on Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, September 2nd. StockNews.com upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 5th. Finally, KeyCorp reduced their target price on Broadcom from $780.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $675.13.

Broadcom Company Profile

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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