Duff & Phelps Investment Management Co. lessened its holdings in Broadcom Inc (NASDAQ:AVGO) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,840 shares of the semiconductor manufacturer’s stock after selling 665 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Broadcom were worth $13,181,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares in the last quarter. Vanguard Group Inc raised its stake in Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after acquiring an additional 2,094,847 shares in the last quarter. Capital International Investors raised its stake in Broadcom by 504.1% during the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after acquiring an additional 22,955,578 shares in the last quarter. BlackRock Inc. raised its stake in Broadcom by 0.8% during the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after acquiring an additional 209,280 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in Broadcom by 16.3% during the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after acquiring an additional 3,608,395 shares in the last quarter. Institutional investors and hedge funds own 86.42% of the company’s stock.
AVGO has been the topic of several research analyst reports. Deutsche Bank cut their price target on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. Credit Suisse Group initiated coverage on shares of Broadcom in a research note on Friday, November 16th. They set an “outperform” rating and a $300.00 price target on the stock. ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. UBS Group cut their price target on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, December 7th. Finally, BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Nine investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Broadcom has an average rating of “Buy” and an average target price of $288.93.
NASDAQ AVGO opened at $274.06 on Friday. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $109.59 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72. Broadcom Inc has a one year low of $197.46 and a one year high of $280.00.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.58 by $0.27. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.59 earnings per share. Equities analysts anticipate that Broadcom Inc will post 18.59 earnings per share for the current year.
In other news, Director Lewis C. Eggebrecht sold 2,000 shares of Broadcom stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $260.81, for a total value of $521,620.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,723 shares of company stock worth $24,926,174. Insiders own 3.30% of the company’s stock.
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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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