Oxbow Advisors LLC increased its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,473 shares of the semiconductor manufacturer’s stock after purchasing an additional 175 shares during the period. Oxbow Advisors LLC’s holdings in Broadcom were worth $465,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. LVW Advisors LLC lifted its position in shares of Broadcom by 13.5% during the 3rd quarter. LVW Advisors LLC now owns 1,301 shares of the semiconductor manufacturer’s stock worth $359,000 after purchasing an additional 155 shares during the last quarter. Bay Rivers Group acquired a new position in Broadcom in the 4th quarter valued at approximately $1,414,000. Boston Trust Walden Corp raised its holdings in Broadcom by 28.1% in the 3rd quarter. Boston Trust Walden Corp now owns 2,206 shares of the semiconductor manufacturer’s stock valued at $609,000 after acquiring an additional 484 shares in the last quarter. Pennsylvania Trust Co raised its holdings in Broadcom by 0.4% in the 4th quarter. Pennsylvania Trust Co now owns 34,163 shares of the semiconductor manufacturer’s stock valued at $10,796,000 after acquiring an additional 144 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Broadcom by 16.8% in the 3rd quarter. IHT Wealth Management LLC now owns 3,359 shares of the semiconductor manufacturer’s stock valued at $927,000 after acquiring an additional 484 shares in the last quarter. 83.25% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Oppenheimer upped their price target on Broadcom from $315.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup upped their price target on Broadcom from $340.00 to $378.00 and gave the company a “buy” rating in a report on Monday, December 16th. Cowen upped their price target on Broadcom from $285.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, December 13th. Craig Hallum reaffirmed a “buy” rating and issued a $385.00 price target (up previously from $330.00) on shares of Broadcom in a report on Friday, December 13th. Finally, New Street Research reaffirmed a “buy” rating and issued a price target on shares of Broadcom in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $334.10.
In related news, CEO Hock E. Tan sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $311.02, for a total transaction of $23,326,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 231,146 shares of company stock worth $71,683,526. 3.30% of the stock is owned by corporate insiders.
AVGO stock opened at $317.77 on Friday. Broadcom Inc has a 1-year low of $250.09 and a 1-year high of $331.58. The firm has a market cap of $128.87 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.57 and a beta of 0.93. The business’s 50 day moving average is $312.85 and its 200-day moving average is $298.87. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 1.58.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.35 by $0.04. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.74 billion. Broadcom had a return on equity of 46.16% and a net margin of 12.06%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.85 EPS. Sell-side analysts forecast that Broadcom Inc will post 19.3 EPS for the current year.
Broadcom Company Profile
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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