2 weeks Ago By Defense World Staff
Shellback Capital LP purchased a new position in shares of Broadcom Inc. ( NASDAQ:AVGO – Free Report ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,600 shares of the semiconductor manufacturer’s stock, valued at approximately $60,368,000.
Broadcom makes up approximately 4.4% of Shellback Capital LP’s portfolio, making the stock its biggest position. A number of other hedge funds have also made changes to their positions in AVGO.
Swedbank AB acquired a new stake in shares of Broadcom in the first quarter valued at about $2,835,737,000. Vanguard Group Inc. increased its position in Broadcom by 3.
0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the period.
Jennison Associates LLC lifted its holdings in shares of Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter.
Capital International Investors boosted its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after acquiring an additional 1,006,223 shares during the period.
Finally, GQG Partners LLC grew its stake in shares of Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after acquiring an additional 983,328 shares during the last quarter.
Institutional investors and hedge funds own 76.43% of the company’s stock. Analysts Set New Price Targets A number of brokerages have weighed in on AVGO.
Wells Fargo & Company increased their price target on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th.
Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of Broadcom in a research report on Friday, September 6th. Melius Research started coverage on Broadcom in a research note on Monday, June 3rd.
They set a “buy” rating and a $185.00 price target on the stock. Rosenblatt Securities reduced their price objective on Broadcom from $2,400.
00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Finally, Barclays boosted their price objective on Broadcom from $150.
00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock.
Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.23. Broadcom Trading Up 1.
5 % Shares of NASDAQ AVGO opened at $178.09 on Friday. Broadcom Inc.
has a 1-year low of $80.44 and a 1-year high of $185.16.
The company has a 50-day moving average of $157.69 and a two-hundred day moving average of $147.96.
The company has a market cap of $831.78 billion, a PE ratio of 7.66, a P/E/G ratio of 2.
78 and a beta of 1.16. The company has a current ratio of 1.
04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.
Broadcom ( NASDAQ:AVGO – Get Free Report ) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.
20 by $0.04. The firm had revenue of $13.
07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.
12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.
3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS.
As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.
Broadcom Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a $0.53 dividend.
This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th.
This represents a $2.12 annualized dividend and a yield of 1.19%.
Broadcom’s dividend payout ratio (DPR) is currently 9.12%. Insider Buying and Selling In other news, CEO Hock E.
Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.
90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . In related news, CEO Hock E. Tan sold 150,000 shares of Broadcom stock in a transaction on Tuesday, September 24th.
The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00.
Following the completion of the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website .
Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.
95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.
45. The disclosure for this sale can be found here . Insiders sold a total of 232,702 shares of company stock worth $51,147,941 over the last three months.
2.00% of the stock is currently owned by company insiders. Broadcom Company Profile ( Free Report ) Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software. See Also Five stocks we like better than Broadcom High Flyers: 3 Natural Gas Stocks for March 2022 REITs on the Rise After Rate Cuts: Where to Invest Now What is the Australian Securities Exchange (ASX) Is Viking Therapeutics Ready For Another Surge? Bank Stocks – Best Bank Stocks to Invest In AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc.
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