UMB Bank N A MO grew its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 6.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 754 shares of the semiconductor manufacturer’s stock after acquiring an additional 46 shares during the quarter. UMB Bank N A MO’s holdings in Broadcom were worth $217,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in AVGO. Dimensional Fund Advisors LP lifted its stake in shares of Broadcom by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock valued at $418,142,000 after purchasing an additional 96,233 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of Broadcom by 5.4% during the 1st quarter. Chartwell Investment Partners LLC now owns 6,921 shares of the semiconductor manufacturer’s stock valued at $2,081,000 after buying an additional 353 shares during the period. Altman Advisors Inc. raised its holdings in shares of Broadcom by 860.0% during the 1st quarter. Altman Advisors Inc. now owns 8,515 shares of the semiconductor manufacturer’s stock valued at $2,561,000 after buying an additional 7,628 shares during the period. First Manhattan Co. purchased a new stake in shares of Broadcom during the 1st quarter valued at about $213,000. Finally, Virtu Financial LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at about $836,000. Institutional investors own 84.05% of the company’s stock.
In other news, SVP Bryan Ingram sold 13,466 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total value of $3,754,051.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $292.16, for a total value of $5,843,200.00. The disclosure for this sale can be found here. Insiders sold a total of 65,388 shares of company stock valued at $18,198,482 over the last quarter. Company insiders own 3.30% of the company’s stock.
Several equities research analysts recently commented on the company. UBS Group dropped their target price on Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Raymond James reiterated a “hold” rating on shares of Broadcom in a report on Friday, June 14th. Morgan Stanley dropped their target price on Broadcom from $266.00 to $262.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Mizuho reiterated a “buy” rating and set a $330.00 target price on shares of Broadcom in a report on Sunday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $350.00 target price on shares of Broadcom in a report on Monday, June 10th. Nine investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Broadcom currently has a consensus rating of “Buy” and an average price target of $304.32.
Shares of NASDAQ AVGO traded down $6.77 during trading on Wednesday, reaching $276.93. The stock had a trading volume of 506,024 shares, compared to its average volume of 2,849,475. Broadcom Inc has a one year low of $202.77 and a one year high of $323.20. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $110.62 billion, a PE ratio of 14.71, a PEG ratio of 1.34 and a beta of 0.92. The stock has a 50 day simple moving average of $285.77.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $4.88 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc will post 17.43 earnings per share for the current year.
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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