Homrich & Berg purchased a new position in Broadcom Inc (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 864 shares of the semiconductor manufacturer’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Vestor Capital LLC lifted its position in shares of Broadcom by 2.0% during the first quarter. Vestor Capital LLC now owns 13,648 shares of the semiconductor manufacturer’s stock worth $3,216,000 after purchasing an additional 271 shares in the last quarter. Summit Global Investments increased its stake in shares of Broadcom by 16.0% during the first quarter. Summit Global Investments now owns 2,143 shares of the semiconductor manufacturer’s stock worth $505,000 after buying an additional 296 shares during the period. Front Row Advisors LLC increased its stake in shares of Broadcom by 11.1% during the first quarter. Front Row Advisors LLC now owns 4,063 shares of the semiconductor manufacturer’s stock worth $957,000 after buying an additional 405 shares during the period. Arcadia Investment Management Corp MI increased its stake in shares of Broadcom by 1.8% during the second quarter. Arcadia Investment Management Corp MI now owns 25,584 shares of the semiconductor manufacturer’s stock worth $6,208,000 after buying an additional 442 shares during the period. Finally, KCM Investment Advisors LLC increased its stake in shares of Broadcom by 27.1% during the first quarter. KCM Investment Advisors LLC now owns 2,219 shares of the semiconductor manufacturer’s stock worth $523,000 after buying an additional 473 shares during the period. 84.35% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Tuesday, September 11th. ValuEngine upgraded shares of Broadcom from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Mizuho reiterated a “buy” rating and issued a $280.00 price target on shares of Broadcom in a research note on Friday, September 7th. BMO Capital Markets restated a “hold” rating and set a $230.00 target price on shares of Broadcom in a research report on Friday, September 7th. Finally, MKM Partners lowered their target price on shares of Broadcom to $255.00 in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $288.56.

AVGO traded up $0.92 during midday trading on Friday, hitting $236.34. The company’s stock had a trading volume of 2,790,063 shares, compared to its average volume of 3,882,035. The stock has a market capitalization of $99.24 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $285.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 EPS. equities research analysts anticipate that Broadcom Inc will post 18.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, September 19th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, September 18th. Broadcom’s dividend payout ratio (DPR) is presently 48.95%.

In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $204.90, for a total transaction of $4,098,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 80,000 shares of company stock worth $18,078,200 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

About Broadcom

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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