NN Investment Partners Holdings N.V. increased its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,243 shares of the semiconductor manufacturer’s stock after purchasing an additional 828 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Broadcom were worth $1,047,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in Broadcom by 160.7% in the third quarter. CWM LLC now owns 644 shares of the semiconductor manufacturer’s stock worth $159,000 after acquiring an additional 397 shares in the last quarter. Conning Inc. boosted its holdings in Broadcom by 1,922.3% in the third quarter. Conning Inc. now owns 177,376 shares of the semiconductor manufacturer’s stock worth $43,764,000 after acquiring an additional 168,605 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Broadcom by 23.2% in the third quarter. Oppenheimer & Co. Inc. now owns 16,058 shares of the semiconductor manufacturer’s stock worth $3,961,000 after acquiring an additional 3,029 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in Broadcom by 0.9% in the third quarter. Congress Asset Management Co. MA now owns 34,263 shares of the semiconductor manufacturer’s stock worth $8,454,000 after acquiring an additional 305 shares in the last quarter. Finally, Barings LLC bought a new position in Broadcom in the third quarter worth approximately $4,908,000. 88.09% of the stock is owned by institutional investors and hedge funds.
Shares of Broadcom stock opened at $228.25 on Wednesday. The firm has a market cap of $91.28 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.99. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $285.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. Broadcom’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. Research analysts anticipate that Broadcom Inc will post 18.09 EPS for the current year.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $238.62, for a total value of $4,772,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. Insiders have sold 61,194 shares of company stock worth $13,785,345 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on AVGO shares. BidaskClub upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Nomura upgraded Broadcom from a “neutral” rating to a “buy” rating and increased their price target for the stock from $225.00 to $300.00 in a report on Monday, September 17th. ValuEngine lowered Broadcom from a “sell” rating to a “strong sell” rating in a report on Thursday, July 12th. Goldman Sachs Group lowered Broadcom from a “buy” rating to a “neutral” rating and cut their price target for the stock from $300.00 to $220.00 in a report on Wednesday, July 18th. Finally, UBS Group cut their price target on Broadcom from $330.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $290.77.
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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