Archford Capital Strategies LLC acquired a new stake in Broadcom Inc (NASDAQ:AVGO) in the second quarter, Holdings Channel reports. The firm acquired 5,236 shares of the semiconductor manufacturer’s stock, valued at approximately $1,270,000.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Broadcom in the second quarter valued at approximately $6,240,939,000. FMR LLC acquired a new position in shares of Broadcom in the second quarter valued at approximately $2,768,560,000. Jennison Associates LLC acquired a new position in shares of Broadcom in the second quarter valued at approximately $1,392,514,000. Bank of New York Mellon Corp acquired a new position in shares of Broadcom in the second quarter valued at approximately $1,127,357,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Broadcom in the second quarter valued at approximately $608,463,000. 84.21% of the stock is owned by institutional investors and hedge funds.
AVGO opened at $215.97 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. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $285.68. The company has a market cap of $94.55 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 56.32% and a return on equity of 28.81%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the firm earned $4.10 earnings per share. Broadcom’s revenue for the quarter was up 13.4% on a year-over-year basis. research analysts predict that Broadcom Inc will post 17.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Wednesday, September 19th will be paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.24%. Broadcom’s dividend payout ratio is currently 48.95%.
In other Broadcom news, SVP Bryan Ingram sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $261.84, for a total transaction of $5,236,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 130,604 shares of company stock valued at $31,572,092. 3.30% of the stock is owned by insiders.
A number of research firms have recently weighed in on AVGO. DA Davidson cut their price objective on shares of Broadcom to $300.00 and set a “positive” rating for the company in a research report on Thursday, May 10th. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a report on Thursday, July 12th. ValuEngine upgraded shares of Broadcom from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a report on Wednesday, May 16th. Finally, Longbow Research downgraded shares of Broadcom from a “buy” rating to a “neutral” rating in a report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have given a buy rating to the company. Broadcom currently has an average rating of “Buy” and a consensus target price of $291.87.
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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