Broadcom Inc (NASDAQ:AVGO) Stock Position Boosted by US Bancorp DE

US Bancorp DE boosted its stake in Broadcom Inc (NASDAQ:AVGO) by 2.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,439 shares of the semiconductor manufacturer’s stock after buying an additional 1,551 shares during the period. US Bancorp DE’s holdings in Broadcom were worth $18,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. CRA Financial Services LLC lifted its holdings in Broadcom by 2.0% in the 2nd quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after acquiring an additional 33 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in Broadcom by 62.5% in the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. Tarbox Family Office Inc. lifted its holdings in Broadcom by 20.2% in the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after acquiring an additional 36 shares during the last quarter. Enterprise Financial Services Corp lifted its holdings in Broadcom by 14.7% in the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after acquiring an additional 37 shares during the last quarter. Finally, First Business Financial Services Inc. lifted its holdings in Broadcom by 1.7% in the 2nd quarter. First Business Financial Services Inc. now owns 2,336 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 84.57% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Bank of America reissued a “buy” rating and issued a $345.00 price target on shares of Broadcom in a report on Friday. Daiwa Capital Markets lowered shares of Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. set a $350.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities set a $370.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday. Finally, Mizuho reaffirmed a “buy” rating and set a $340.00 price objective (up from $330.00) on shares of Broadcom in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $311.71.



NASDAQ:AVGO traded down $0.94 during mid-day trading on Monday, reaching $289.39. The stock had a trading volume of 656,329 shares, compared to its average volume of 1,808,186. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13. The business’s 50 day moving average is $282.92 and its 200 day moving average is $286.84. The stock has a market cap of $119.65 billion, a P/E ratio of 15.37, a PEG ratio of 1.47 and a beta of 0.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.11). Broadcom had a net margin of 13.44% and a return on equity of 33.21%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business earned $4.98 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts expect that Broadcom Inc will post 17.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be issued a dividend of $2.65 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $10.60 annualized dividend and a yield of 3.66%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

In other news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $270.46, for a total value of $5,409,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Bryan Ingram sold 13,466 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total transaction of $3,754,051.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,388 shares of company stock worth $18,327,682. Corporate insiders own 3.30% of the company’s stock.

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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