Broadcom Inc (NASDAQ:AVGO) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in Broadcom Inc (NASDAQ:AVGO) by 3.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,322 shares of the semiconductor manufacturer’s stock after buying an additional 234 shares during the quarter. D.A. Davidson & CO.’s holdings in Broadcom were worth $2,022,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in Broadcom by 17.8% during the 2nd quarter. Janus Henderson Group PLC now owns 978,371 shares of the semiconductor manufacturer’s stock valued at $281,577,000 after purchasing an additional 147,769 shares in the last quarter. Endurance Wealth Management Inc. grew its stake in Broadcom by 8.4% during the 2nd quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock valued at $2,181,000 after purchasing an additional 585 shares in the last quarter. Parsons Capital Management Inc. RI grew its stake in Broadcom by 13.2% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock valued at $474,000 after purchasing an additional 192 shares in the last quarter. 9258 Wealth Management LLC grew its stake in Broadcom by 5.8% during the 2nd quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock valued at $449,000 after purchasing an additional 85 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its stake in Broadcom by 63.0% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock valued at $17,511,000 after purchasing an additional 23,514 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

AVGO has been the subject of a number of recent analyst reports. Royal Bank of Canada initiated coverage on Broadcom in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $320.00 price objective for the company. Oppenheimer set a $315.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. set a $350.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Cowen set a $285.00 price objective on Broadcom and gave the company a “hold” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Broadcom has an average rating of “Buy” and a consensus price target of $314.72.

In related news, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.43, for a total value of $5,788,600.00. In the last three months, insiders sold 42,000 shares of company stock worth $12,141,660. Company insiders own 3.30% of the company’s stock.

NASDAQ:AVGO opened at $308.97 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. The business’s 50 day moving average is $288.80 and its two-hundred day moving average is $285.01. Broadcom Inc has a 52 week low of $217.61 and a 52 week high of $323.20. The company has a market cap of $125.16 billion, a PE ratio of 17.45, a P/E/G ratio of 1.37 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the business earned $4.98 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc will post 16.97 EPS for the current fiscal year.

Broadcom Company 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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