Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Broadcom Inc (NASDAQ:AVGO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,617 shares of the semiconductor manufacturer’s stock, valued at approximately $4,668,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its position in Broadcom by 26,295.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after acquiring an additional 11,904,869 shares during the period. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter worth $1,055,582,000. Morgan Stanley raised its stake in shares of Broadcom by 121.7% in the 3rd quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock worth $1,060,125,000 after buying an additional 2,358,329 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Broadcom by 6.6% in the 3rd 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 in the last quarter. Finally, Thornburg Investment Management Inc. raised its stake in shares of Broadcom by 85.2% in the 4th quarter. Thornburg Investment Management Inc. now owns 825,050 shares of the semiconductor manufacturer’s stock worth $209,794,000 after buying an additional 379,637 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.
A number of brokerages have recently issued reports on AVGO. KeyCorp boosted their target price on Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. BidaskClub lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. ValuEngine raised Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Mizuho boosted their target price on Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $303.41.
In other news, CFO Thomas H. Krause sold 14,494 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total value of $4,282,252.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was 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. Insiders sold a total of 87,824 shares of company stock worth $26,390,919 over the last quarter. Corporate insiders own 3.30% of the company’s stock.
NASDAQ AVGO traded down $3.10 during trading hours on Thursday, reaching $300.29. 58,716 shares of the company’s stock were exchanged, compared to its average volume of 2,737,464. The firm has a market cap of $118.56 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. Broadcom Inc has a one year low of $197.46 and a one year high of $323.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating the Zacks’ consensus estimate of $4.32 by $1.23. The firm had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $5.12 EPS. As a group, equities analysts expect that Broadcom Inc will post 17.65 earnings per share for the current year.
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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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