Broadcom Inc. $AVGO Shares Bought by M Holdings Securities Inc.

M Holdings Securities Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 30.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,130 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,992 shares during the period. Broadcom comprises 1.0% of M Holdings Securities Inc.’s holdings, making the stock its 27th biggest holding. M Holdings Securities Inc.’s holdings in Broadcom were worth $5,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after buying an additional 39,466 shares during the period. Capital Counsel LLC NY purchased a new position in shares of Broadcom in the second quarter worth approximately $221,000. Waterloo Capital L.P. raised its holdings in shares of Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after acquiring an additional 3,180 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after acquiring an additional 13,978 shares in the last quarter. Finally, RiverFront Investment Group LLC boosted its stake in Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after purchasing an additional 8,566 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $443.00 target price (up previously from $409.00) on shares of Broadcom in a research report on Monday. Rosenblatt Securities upped their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Wells Fargo & Company lifted their price objective on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Sanford C. Bernstein raised their price target on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Finally, Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $391.04.

Broadcom Stock Up 0.1%

AVGO opened at $381.03 on Friday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $403.00. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 97.20, a PEG ratio of 1.30 and a beta of 1.19. The company’s 50-day moving average is $355.68 and its 200 day moving average is $310.46. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 EPS. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.