CIBC Asset Management Inc lessened its stake in Broadcom Inc (NASDAQ:AVGO) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,794 shares of the semiconductor manufacturer’s stock after selling 1,467 shares during the period. CIBC Asset Management Inc’s holdings in Broadcom were worth $12,267,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc boosted its position in shares of Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Broadcom by 16.4% in the 4th quarter. DNB Asset Management AS now owns 58,755 shares of the semiconductor manufacturer’s stock worth $14,940,000 after purchasing an additional 8,285 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $116,000. Capital City Trust Co. FL boosted its position in shares of Broadcom by 1.0% in the 4th quarter. Capital City Trust Co. FL now owns 4,579 shares of the semiconductor manufacturer’s stock worth $1,164,000 after purchasing an additional 45 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp boosted its position in shares of Broadcom by 183.2% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 80,057 shares of the semiconductor manufacturer’s stock worth $20,357,000 after purchasing an additional 51,786 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
A number of brokerages have recently commented on AVGO. UBS Group boosted their price target on Broadcom from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine cut Broadcom from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp boosted their price target on Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Mizuho boosted their price target on Broadcom from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $304.88.
Shares of NASDAQ AVGO opened at $304.37 on Thursday. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $323.20. The company has a market capitalization of $116.13 billion, a P/E ratio of 16.16, a PEG ratio of 1.37 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.23. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.12 EPS. Sell-side analysts expect that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.
In other Broadcom news, SVP Charlie B. Kawwas sold 9,330 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total transaction of $2,761,026.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $291.27, for a total transaction of $5,825,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,824 shares of company stock valued at $26,390,919. Company insiders own 3.30% of the company’s stock.
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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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