Mission Wealth Management LP lessened its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,401 shares of the semiconductor manufacturer’s stock after selling 96 shares during the quarter. Mission Wealth Management LP’s holdings in Broadcom were worth $1,882,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Capital International Investors boosted its position in shares of Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after acquiring an additional 22,955,578 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Broadcom by 26,295.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after acquiring an additional 11,904,869 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Broadcom in the second quarter valued at approximately $1,127,357,000. Capital Research Global Investors boosted its position in shares of Broadcom by 16.3% in the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after acquiring an additional 3,608,395 shares during the period. Finally, Morgan Stanley boosted its position in shares of Broadcom by 121.7% in the third quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after acquiring an additional 2,358,329 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.
Shares of AVGO opened at $280.94 on Friday. The company has a market capitalization of $112.26 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.28 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $286.63.
Broadcom (NASDAQ:AVGO) last issued its earnings results 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 net margin of 58.80% and a return on equity of 29.03%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm earned $4.59 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts expect that Broadcom Inc will post 18.59 earnings per share for the current year.
A number of equities analysts have recently commented on AVGO shares. BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Deutsche Bank reiterated a “buy” rating and set a $310.00 target price on shares of Broadcom in a research report on Thursday, November 8th. started coverage on shares of Broadcom in a research report on Thursday, November 8th. They set a “buy” rating and a $310.00 target price for the company. B. Riley upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Monday, December 3rd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $300.00 target price on shares of Broadcom in a research report on Wednesday, December 5th. Ten research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom currently has a consensus rating of “Buy” and a consensus price target of $289.42.
In related news, Director Donald Macleod sold 5,223 shares of Broadcom stock in a transaction on Monday, January 7th. The shares were sold at an average price of $233.65, for a total value of $1,220,353.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total transaction of $2,591,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,723 shares of company stock worth $20,347,374. 3.30% of the stock is owned by insiders.
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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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