Broadcom Inc (AVGO) Shares Bought by TCW Group Inc.

TCW Group Inc. raised its stake in Broadcom Inc (NASDAQ:AVGO) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,678 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,839 shares during the period. TCW Group Inc.’s holdings in Broadcom were worth $33,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Broadcom in the third quarter valued at about $208,000. Aviance Capital Management LLC raised its holdings in shares of Broadcom by 2.8% in the third quarter. Aviance Capital Management LLC now owns 21,365 shares of the semiconductor manufacturer’s stock valued at $5,271,000 after buying an additional 577 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Broadcom by 6.1% in the third quarter. Arizona State Retirement System now owns 106,994 shares of the semiconductor manufacturer’s stock valued at $26,399,000 after buying an additional 6,109 shares during the last quarter. GWM Advisors LLC raised its holdings in shares of Broadcom by 97.8% in the third quarter. GWM Advisors LLC now owns 4,298 shares of the semiconductor manufacturer’s stock valued at $1,061,000 after buying an additional 2,125 shares during the last quarter. Finally, Kendall Capital Management raised its holdings in shares of Broadcom by 36.3% in the third quarter. Kendall Capital Management now owns 10,418 shares of the semiconductor manufacturer’s stock valued at $2,570,000 after buying an additional 2,777 shares during the last quarter. Institutional investors own 88.02% of the company’s stock.

A number of equities research analysts have recently commented on AVGO shares. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Jefferies Financial Group reduced their target price on shares of Broadcom to $278.00 and set a “buy” rating for the company in a report on Thursday, July 12th. Royal Bank of Canada cut shares of Broadcom from a “top pick” rating to an “outperform” rating and reduced their target price for the company from $330.00 to $300.00 in a report on Thursday, July 12th. Macquarie cut shares of Broadcom from an “outperform” rating to a “neutral” rating and set a $265.00 target price for the company. in a report on Thursday, July 12th. Finally, B. Riley cut shares of Broadcom from a “buy” rating to a “neutral” rating and cut their price target for the stock from $308.00 to $245.00 in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $290.77.



In other Broadcom news, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $246.52, for a total value of $294,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $204.90, for a total transaction of $4,098,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,194 shares of company stock valued at $13,785,345. 3.30% of the stock is currently owned by corporate insiders.

Shares of Broadcom stock opened at $221.01 on Wednesday. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. The stock has a market capitalization of $88.13 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.88 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the company posted $4.10 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc will post 18.09 earnings per share for the current year.

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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