Trust Investment Advisors lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 10.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,928 shares of the semiconductor manufacturer’s stock after buying an additional 287 shares during the period. Broadcom makes up about 2.1% of Trust Investment Advisors’ holdings, making the stock its 4th biggest position. Trust Investment Advisors’ holdings in Broadcom were worth $2,540,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Insight Advisors LLC PA boosted its stake in shares of Broadcom by 1.0% in the 2nd quarter. Insight Advisors LLC PA now owns 1,467 shares of the semiconductor manufacturer’s stock valued at $1,273,000 after buying an additional 14 shares during the period. NorthRock Partners LLC lifted its stake in Broadcom by 10.9% in the second quarter. NorthRock Partners LLC now owns 1,531 shares of the semiconductor manufacturer’s stock worth $1,328,000 after acquiring an additional 151 shares during the last quarter. Beacon Bridge Wealth Partners LLC grew its holdings in Broadcom by 1,655.9% during the 2nd quarter. Beacon Bridge Wealth Partners LLC now owns 8,481 shares of the semiconductor manufacturer’s stock worth $7,354,000 after acquiring an additional 7,998 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Broadcom by 8.0% in the 1st quarter. Sunbelt Securities Inc. now owns 5,564 shares of the semiconductor manufacturer’s stock valued at $3,527,000 after purchasing an additional 414 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd raised its holdings in shares of Broadcom by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 68,598 shares of the semiconductor manufacturer’s stock valued at $44,008,000 after purchasing an additional 11,532 shares in the last quarter. Hedge funds and other institutional investors own 78.81% of the company’s stock.
Analyst Ratings Changes
AVGO has been the subject of a number of analyst reports. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $905.00 to $950.00 in a research report on Friday, September 1st. Robert W. Baird raised their target price on Broadcom from $900.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. KeyCorp reaffirmed an “overweight” rating and issued a $1,000.00 price target on shares of Broadcom in a report on Thursday, September 14th. Finally, Evercore ISI raised their price objective on shares of Broadcom from $1,000.00 to $1,050.00 in a report on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $848.52.
Insiders Place Their Bets
In related news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the acquisition, the director now directly owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Check Kian Low bought 11,000 shares of the stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the transaction, the director now owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the sale, the director now owns 9,123 shares of the company’s stock, valued at $7,806,368.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Broadcom Stock Performance
AVGO stock traded up $18.18 during trading on Friday, hitting $977.73. The company had a trading volume of 1,979,461 shares, compared to its average volume of 2,423,349. The firm has a 50-day moving average price of $868.63 and a 200-day moving average price of $838.77. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The firm has a market cap of $403.55 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. Broadcom Inc. has a 1-year low of $511.00 and a 1-year high of $983.89.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, topping the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter in the prior year, the business earned $9.07 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 37.83 earnings per share for the current year.
Broadcom Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 21st were issued a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, September 20th. Broadcom’s dividend payout ratio (DPR) is currently 56.58%.
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.
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