Cullen Frost Bankers Inc. grew its stake in Broadcom Inc (NASDAQ:AVGO) by 82.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,676 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,017 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Broadcom were worth $2,110,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Broadcom in the third quarter valued at about $28,000. Marquette Asset Management LLC acquired a new stake in shares of Broadcom in the third quarter valued at about $28,000. Islay Capital Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $32,000. Private Ocean LLC grew its position in shares of Broadcom by 1,566.7% in the fourth quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 94 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Broadcom by 8.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 124,792 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 9,602 shares during the period. Institutional investors and hedge funds own 83.25% of the company’s stock.
AVGO has been the topic of a number of recent research reports. Mizuho restated a “buy” rating and set a $365.00 price target (up from $340.00) on shares of Broadcom in a research report on Thursday, December 12th. Morgan Stanley upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 27th. Wells Fargo & Co boosted their price target on shares of Broadcom from $300.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Cascend Securities boosted their price target on shares of Broadcom from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets boosted their price target on shares of Broadcom from $310.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $334.10.
Shares of AVGO stock opened at $317.77 on Friday. The firm’s 50-day moving average is $312.85 and its two-hundred day moving average is $298.87. The company has a market capitalization of $128.87 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. Broadcom Inc has a 12 month low of $250.09 and a 12 month high of $331.58. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.31.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.35 by $0.04. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.85 EPS. Sell-side analysts forecast that Broadcom Inc will post 19.3 EPS for the current year.
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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