Brown Advisory Inc. Has $63.95 Million Stake in Broadcom Inc. $AVGO

Brown Advisory Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,997 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,389 shares during the period. Brown Advisory Inc.’s holdings in Broadcom were worth $63,950,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the second quarter valued at $27,000. Legend Financial Advisors Inc. bought a new position in shares of Broadcom in the second quarter valued at about $28,000. LGT Financial Advisors LLC acquired a new position in Broadcom during the 2nd quarter worth about $31,000. Finally, New England Capital Financial Advisors LLC bought a new stake in Broadcom during the 2nd quarter worth about $31,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

AVGO stock opened at $390.24 on Friday. The business’s fifty day moving average is $356.79 and its 200-day moving average is $311.56. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.84 trillion, a P/E ratio of 99.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $403.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AVGO. Citigroup reaffirmed a “buy” rating and issued a $415.00 target price (up from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Benchmark boosted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Evercore ISI increased their price objective on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Argus boosted their target price on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $391.04.

Insider Activity

In related news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company Profile

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.