GW&K Investment Management LLC increased its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,478 shares of the semiconductor manufacturer’s stock after purchasing an additional 448 shares during the quarter. GW&K Investment Management LLC’s holdings in Broadcom were worth $37,677,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bank grew its stake in Broadcom by 128.2% during the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Broadcom during the 2nd quarter worth about $27,000. Liberty Wealth Management LLC boosted its position in shares of Broadcom by 62.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 35 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Broadcom during the 3rd quarter worth about $28,000. Finally, Garrett Wealth Advisory Group LLC acquired a new position in shares of Broadcom during the 3rd quarter worth about $28,000. 84.98% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on AVGO. Wells Fargo & Co upped their price objective on Broadcom from $290.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, September 13th. Oppenheimer set a $315.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. Sanford C. Bernstein set a $340.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. KeyCorp upped their price objective on Broadcom from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Cascend Securities upped their price objective on Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus price target of $313.69.
AVGO traded up $1.67 on Friday, hitting $313.41. 1,782,900 shares of the company traded hands, compared to its average volume of 2,653,873. The stock has a market capitalization of $124.57 billion, a PE ratio of 16.64, a PEG ratio of 1.36 and a beta of 0.90. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. The company has a 50 day moving average of $285.95 and a 200-day moving average of $285.07. Broadcom Inc has a 12-month low of $217.61 and a 12-month high of $323.20.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.98 EPS. On average, research analysts anticipate that Broadcom Inc will post 16.97 EPS for the current year.
In other Broadcom news, insider Mark David Brazeal sold 2,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $288.71, for a total value of $5,774,200.00. In the last 90 days, insiders sold 62,000 shares of company stock worth $17,550,860. Insiders own 3.30% of the company’s stock.
Broadcom Company Profile
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.
See Also: What is Liquidity?
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.