Cwm LLC lifted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,110 shares of the semiconductor manufacturer’s stock after acquiring an additional 238 shares during the quarter. Cwm LLC’s holdings in Broadcom were worth $334,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after buying an additional 2,094,847 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Broadcom by 26,295.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after buying an additional 11,904,869 shares during the period. FMR LLC boosted its position in shares of Broadcom by 3.8% in the fourth quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after buying an additional 374,911 shares during the period. Geode Capital Management LLC boosted its position in shares of Broadcom by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 5,111,832 shares of the semiconductor manufacturer’s stock worth $1,297,609,000 after buying an additional 63,639 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Broadcom by 0.4% in the fourth quarter. Northern Trust Corp now owns 4,857,123 shares of the semiconductor manufacturer’s stock worth $1,235,068,000 after buying an additional 20,941 shares during the period. 87.00% of the stock is owned by institutional investors and hedge funds.
In other Broadcom news, CFO Thomas H. Krause sold 14,494 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total transaction of $4,282,252.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $315.07, for a total value of $6,301,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,824 shares of company stock worth $26,390,919. Corporate insiders own 3.30% of the company’s stock.
NASDAQ AVGO opened at $310.41 on Monday. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $322.45. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27. The stock has a market cap of $122.87 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.45 and a beta of 0.68.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The company had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the company earned $5.12 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.
Several analysts have recently commented on the company. ValuEngine raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. KeyCorp raised their target price on Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho raised their target price on Broadcom from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Zacks Investment Research cut Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $303.03.
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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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