Segall Bryant & Hamill LLC bought a new position in Broadcom Inc (NASDAQ:AVGO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 81,513 shares of the semiconductor manufacturer’s stock, valued at approximately $19,778,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Jennison Associates LLC acquired a new position in shares of Broadcom in the second quarter worth about $1,392,514,000. Bank of New York Mellon Corp acquired a new stake in shares of Broadcom during the second quarter worth approximately $1,127,357,000. Fred Alger Management Inc. acquired a new stake in shares of Broadcom during the second quarter worth approximately $463,127,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Broadcom during the second quarter worth approximately $357,175,000. Finally, Cantillon Capital Management LLC acquired a new stake in shares of Broadcom during the second quarter worth approximately $338,012,000. Institutional investors own 83.09% of the company’s stock.
In other news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $204.90, for a total value of $4,098,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bryan Ingram sold 10,604 shares of Broadcom stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $270.02, for a total transaction of $2,863,292.08. The disclosure for this sale can be found here. Insiders sold 140,604 shares of company stock valued at $34,075,792 over the last quarter. Corporate insiders own 3.30% of the company’s stock.
AVGO has been the subject of several research reports. BidaskClub cut shares of Broadcom from a “hold” rating to a “sell” rating in a report on Thursday, April 26th. Morgan Stanley raised their price target on shares of Broadcom from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Monday, April 30th. Canaccord Genuity restated a “buy” rating and set a $325.00 price target (down from $340.00) on shares of Broadcom in a report on Tuesday, May 1st. Sanford C. Bernstein set a $310.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, May 1st. Finally, B. Riley decreased their price target on shares of Broadcom from $335.00 to $310.00 and set a “buy” rating for the company in a report on Tuesday, May 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $290.77.
NASDAQ AVGO opened at $209.27 on Friday. The company has a quick ratio of 5.29, a current ratio of 5.87 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $91.62 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, June 7th. The semiconductor manufacturer reported $4.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.05 by $0.83. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5 billion. Broadcom had a net margin of 56.32% and a return on equity of 28.81%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 earnings per share. analysts anticipate that Broadcom Inc will post 17.48 EPS for the current fiscal year.
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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