Broadcom Inc (AVGO) Position Boosted by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lifted its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,387 shares of the semiconductor manufacturer’s stock after acquiring an additional 48 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Broadcom were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in shares of Broadcom by 2.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $346,000 after buying an additional 41 shares during the last quarter. Capital City Trust Co. FL boosted its position in shares of Broadcom by 1.0% during the fourth quarter. Capital City Trust Co. FL now owns 4,579 shares of the semiconductor manufacturer’s stock valued at $1,164,000 after buying an additional 45 shares during the last quarter. Navellier & Associates Inc boosted its position in shares of Broadcom by 2.0% during the fourth quarter. Navellier & Associates Inc now owns 2,283 shares of the semiconductor manufacturer’s stock valued at $581,000 after buying an additional 45 shares during the last quarter. Bank OZK boosted its position in shares of Broadcom by 1.1% during the fourth quarter. Bank OZK now owns 4,170 shares of the semiconductor manufacturer’s stock valued at $1,060,000 after buying an additional 45 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. boosted its position in shares of Broadcom by 1.5% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 3,266 shares of the semiconductor manufacturer’s stock valued at $830,000 after buying an additional 47 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

Several research firms recently commented on AVGO. B. Riley raised Broadcom from a “neutral” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a research report on Monday, December 3rd. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Charter Equity raised Broadcom from a “market perform” rating to a “buy” rating in a research report on Friday, December 7th. Craig Hallum reissued a “buy” rating and issued a $305.00 target price (up from $300.00) on shares of Broadcom in a research report on Friday, December 7th. Finally, MKM Partners raised their target price on Broadcom from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, December 7th. Nine analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $289.42.

In related news, CFO Thomas H. Krause sold 22,500 shares of Broadcom stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $257.08, for a total transaction of $5,784,300.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $259.19, for a total value of $2,591,900.00. The disclosure for this sale can be found here. Insiders sold 79,723 shares of company stock worth $20,347,374 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

NASDAQ AVGO opened at $280.94 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. Broadcom Inc has a 52 week low of $197.46 and a 52 week high of $286.63. The stock has a market capitalization of $112.26 billion, a PE ratio of 14.92, a P/E/G ratio of 1.28 and a beta of 0.72.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping the consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the company earned $4.59 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc will post 18.59 EPS for the current fiscal year.

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Broadcom 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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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