Gofen & Glossberg LLC IL raised its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,327 shares of the semiconductor manufacturer’s stock after buying an additional 1,109 shares during the quarter. Broadcom comprises about 1.1% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 26th biggest holding. Gofen & Glossberg LLC IL’s holdings in Broadcom were worth $32,910,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in AVGO. Pinnacle Bank increased its holdings in shares of Broadcom by 128.2% in the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Broadcom in the 1st quarter worth $30,000. Daiwa SB Investments Ltd. bought a new stake in shares of Broadcom in the 1st quarter worth $30,000. CX Institutional increased its holdings in shares of Broadcom by 555.6% in the 1st quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Finally, Destination Wealth Management bought a new stake in shares of Broadcom in the 1st quarter worth $41,000. Institutional investors and hedge funds own 83.92% of the company’s stock.
In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $264.00, for a total value of $5,280,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 13,466 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $278.78, for a total value of $3,754,051.48. The disclosure for this sale can be found here. Insiders sold 65,388 shares of company stock worth $18,198,482 over the last 90 days. Company insiders own 3.30% of the company’s stock.
A number of analysts have commented on the company. KeyCorp lifted their target price on Alteryx from $100.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Rosenblatt Securities reissued a “buy” rating and issued a $350.00 target price on shares of Broadcom in a report on Monday, June 10th. Zacks Investment Research raised HAYS PLC/ADR from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. BidaskClub raised Xilinx from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Morgan Stanley set a $143.00 price objective on FedEx and gave the stock a “hold” rating in a report on Monday, June 10th. Seven analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $303.68.
NASDAQ:AVGO opened at $303.77 on Thursday. The firm’s 50-day moving average is $281.55. Broadcom Inc has a 52-week low of $202.77 and a 52-week high of $323.20. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $119.73 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.46 and a beta of 0.94.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the company posted $4.88 earnings per share. Broadcom’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc will post 17.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th were given a $2.65 dividend. The ex-dividend date was Friday, June 21st. This represents a $10.60 annualized dividend and a dividend yield of 3.49%. Broadcom’s payout ratio is 56.29%.
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.
Featured Article: Management Fee
Receive News & Ratings for Broadcom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Broadcom and related companies with MarketBeat.com’s FREE daily email newsletter.