Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Broadcom Inc (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 69,357 shares of the semiconductor manufacturer’s stock, valued at approximately $17,112,000.
Other institutional investors have also modified their holdings of the company. Marcus Capital LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $364,000. BP PLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $12,135,000. Wesbanco Bank Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at $19,879,000. Sigma Investment Counselors Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at $286,000. Finally, KBC Group NV bought a new stake in shares of Broadcom during the 2nd quarter valued at $10,500,000. Institutional investors own 88.09% of the company’s stock.
Several brokerages have commented on AVGO. ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Saturday. Raymond James cut shares of Broadcom from an “outperform” rating to a “market perform” rating in a research report on Friday, July 13th. MED initiated coverage on shares of Broadcom in a research report on Thursday. They issued a “buy” rating and a $310.00 price objective for the company. Deutsche Bank restated a “buy” rating and issued a $310.00 price objective on shares of Broadcom in a research report on Thursday. Finally, BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $290.97.
AVGO stock opened at $238.99 on Friday. The stock has a market cap of $96.91 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $285.68.
Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.10 EPS. As a group, sell-side analysts forecast that Broadcom Inc will post 18.09 earnings per share for the current year.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $231.03, for a total transaction of $4,620,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,194 shares of company stock valued at $13,785,345. Corporate insiders own 3.30% of the company’s stock.
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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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