Harvest Investment Services LLC Purchases New Holdings in Broadcom Inc (AVGO)

Harvest Investment Services LLC purchased a new stake in Broadcom Inc (NASDAQ:AVGO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 899 shares of the semiconductor manufacturer’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Standard Life Aberdeen plc acquired a new stake in Broadcom in the third quarter valued at approximately $508,015,000. Vident Investment Advisory LLC acquired a new stake in Broadcom in the third quarter valued at approximately $912,000. Thrivent Financial for Lutherans grew its position in Broadcom by 76.6% in the third quarter. Thrivent Financial for Lutherans now owns 30,453 shares of the semiconductor manufacturer’s stock valued at $7,514,000 after acquiring an additional 13,206 shares in the last quarter. AQR Capital Management LLC grew its position in Broadcom by 490.2% in the third quarter. AQR Capital Management LLC now owns 513,589 shares of the semiconductor manufacturer’s stock valued at $126,718,000 after acquiring an additional 426,568 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new stake in Broadcom in the third quarter valued at approximately $650,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Broadcom stock opened at $320.53 on Thursday. The firm has a market capitalization of $126.08 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. 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 Inc has a 12 month low of $197.46 and a 12 month high of $320.94.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $1.23. The company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $5.12 earnings per share. On average, analysts anticipate that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 56.29%.

AVGO has been the subject of several recent research reports. ValuEngine downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. BidaskClub downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. Morgan Stanley decreased their price target on shares of Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Piper Jaffray Companies reissued an “overweight” rating and set a $310.00 price target on shares of Broadcom in a research report on Thursday, February 14th. Finally, Cowen downgraded shares of Broadcom from an “outperform” rating to a “market perform” rating and set a $280.00 price target for the company. in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $301.99.

In other Broadcom news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $304.51, for a total value of $3,045,100.00. The disclosure for this sale can be found here. Insiders sold 87,824 shares of company stock worth $26,390,919 over the last quarter. 3.30% of the stock is currently owned by company insiders.

WARNING: “Harvest Investment Services LLC Purchases New Holdings in Broadcom Inc (AVGO)” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2019/04/18/harvest-investment-services-llc-purchases-new-holdings-in-broadcom-inc-avgo.html.

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.

Read More: Asset Allocation

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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.