Intact Investment Management Inc. Has $10.27 Million Holdings in Broadcom Inc (AVGO)

Intact Investment Management Inc. lowered its position in Broadcom Inc (NASDAQ:AVGO) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 41,640 shares of the semiconductor manufacturer’s stock after selling 3,360 shares during the quarter. Intact Investment Management Inc.’s holdings in Broadcom were worth $10,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Massey Quick Simon & CO. LLC purchased a new position in shares of Broadcom during the second quarter worth approximately $104,000. Zions Bancorporation purchased a new position in shares of Broadcom during the second quarter worth approximately $109,000. MUFG Americas Holdings Corp purchased a new position in shares of Broadcom during the second quarter worth approximately $109,000. MUFG Securities EMEA plc purchased a new position in shares of Broadcom during the second quarter worth approximately $117,000. Finally, First Personal Financial Services purchased a new position in shares of Broadcom during the second quarter worth approximately $126,000. 88.02% of the stock is owned by institutional investors and hedge funds.

NASDAQ AVGO traded down $1.65 on Monday, hitting $211.50. The stock had a trading volume of 2,836,874 shares, compared to its average volume of 4,228,838. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $285.68. The firm has a market capitalization of $88.13 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.88 and a beta of 0.89.



Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company earned $4.10 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc will post 18.09 earnings per share for the current fiscal year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, October 15th. The shares were sold at an average price of $231.03, for a total value of $4,620,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock worth $13,785,345 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

AVGO has been the topic of a number of research reports. Piper Jaffray Companies set a $293.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Mizuho reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, October 5th. Bank of America raised shares of Broadcom from a “neutral” rating to a “buy” rating in a research report on Friday, September 7th. BidaskClub raised shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, KeyCorp reduced their target price on shares of Broadcom from $325.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $290.77.

About Broadcom

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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