Employers Holdings Inc. acquired a new position in shares of Broadcom Inc (NASDAQ:AVGO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,822 shares of the semiconductor manufacturer’s stock, valued at approximately $1,676,000.
Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Broadcom by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock valued at $418,142,000 after acquiring an additional 96,233 shares in the last quarter. Altman Advisors Inc. increased its holdings in shares of Broadcom by 860.0% during the first quarter. Altman Advisors Inc. now owns 8,515 shares of the semiconductor manufacturer’s stock valued at $2,561,000 after acquiring an additional 7,628 shares in the last quarter. First Manhattan Co. bought a new stake in shares of Broadcom during the first quarter valued at approximately $213,000. Pennsylvania Trust Co increased its holdings in shares of Broadcom by 445.5% during the first quarter. Pennsylvania Trust Co now owns 112,667 shares of the semiconductor manufacturer’s stock valued at $6,264,000 after acquiring an additional 92,012 shares in the last quarter. Finally, BTIM Corp. increased its holdings in shares of Broadcom by 1.7% during the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock valued at $566,000 after acquiring an additional 32 shares in the last quarter. 84.05% of the stock is owned by hedge funds and other institutional investors.
AVGO stock traded up $4.74 during midday trading on Friday, hitting $273.38. The company’s stock had a trading volume of 19,238 shares, compared to its average volume of 2,106,762. The stock’s 50-day moving average price is $285.34 and its 200 day moving average price is $286.09. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. Broadcom Inc has a 1 year low of $204.68 and a 1 year high of $323.20. The stock has a market cap of $112.93 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.39 and a beta of 0.92.
In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $264.00, for a total transaction of $5,280,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold a total of 65,388 shares of company stock worth $18,198,482 in the last ninety days. Insiders own 3.30% of the company’s stock.
Several equities research analysts recently issued reports on AVGO shares. Citigroup decreased their price target on Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. JPMorgan Chase & Co. decreased their price target on Broadcom from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Morgan Stanley decreased their price target on Broadcom from $266.00 to $262.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Cowen reiterated a “market perform” rating and set a $265.00 price target (down previously from $280.00) on shares of Broadcom in a report on Friday, June 14th. Finally, Summit Redstone upgraded Broadcom to a “buy” rating in a report on Friday, June 14th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $304.32.
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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