Employers Holdings Inc. Makes New Investment in Broadcom Inc (NASDAQ:AVGO)

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.



Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm earned $4.88 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc will post 17.23 earnings per share for the current fiscal year.

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 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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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