Naples Global Advisors LLC lifted its stake in Broadcom Inc (NASDAQ:AVGO) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,037 shares of the semiconductor manufacturer’s stock after purchasing an additional 235 shares during the period. Broadcom accounts for approximately 0.8% of Naples Global Advisors LLC’s holdings, making the stock its 27th largest holding. Naples Global Advisors LLC’s holdings in Broadcom were worth $3,323,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Buckingham Capital Management Inc. boosted its stake in Broadcom by 16.4% in the 1st quarter. Buckingham Capital Management Inc. now owns 15,935 shares of the semiconductor manufacturer’s stock worth $4,792,000 after buying an additional 2,243 shares during the last quarter. Park National Corp OH boosted its stake in Broadcom by 105.1% in the 2nd quarter. Park National Corp OH now owns 29,681 shares of the semiconductor manufacturer’s stock worth $8,544,000 after buying an additional 15,209 shares during the last quarter. Private Trust Co. NA boosted its stake in Broadcom by 45.1% in the 2nd quarter. Private Trust Co. NA now owns 2,231 shares of the semiconductor manufacturer’s stock worth $642,000 after buying an additional 693 shares during the last quarter. LVM Capital Management Ltd. MI boosted its stake in Broadcom by 13.3% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 26,165 shares of the semiconductor manufacturer’s stock worth $7,532,000 after buying an additional 3,070 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. acquired a new stake in Broadcom in the 2nd quarter worth about $3,169,000. Institutional investors and hedge funds own 84.96% of the company’s stock.
Broadcom stock traded up $1.62 during midday trading on Monday, hitting $291.44. 103,176 shares of the company were exchanged, compared to its average volume of 1,930,470. The company’s fifty day moving average price is $283.83 and its 200-day moving average price is $286.10. The company has a market cap of $111.98 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.11). The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $4.98 earnings per share. On average, analysts expect that Broadcom Inc will post 16.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 23rd were given a dividend of $2.65 per share. This represents a $10.60 annualized dividend and a yield of 3.64%. The ex-dividend date was Friday, September 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.
In related news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.43, for a total transaction of $5,788,600.00. Also, insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. Insiders have sold a total of 62,000 shares of company stock worth $17,550,860 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
AVGO has been the topic of a number of research analyst reports. SunTrust Banks set a $322.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Friday, September 27th. ValuEngine lowered Broadcom from a “sell” rating to a “strong sell” rating in a research note on Friday. Royal Bank of Canada initiated coverage on Broadcom in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 price target on the stock. Sanford C. Bernstein set a $340.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Susquehanna Bancshares raised their price target on Broadcom from $315.00 to $345.00 and gave the stock a “positive” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $312.06.
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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