Broadcom Inc (NASDAQ:AVGO) Shares Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its holdings in Broadcom Inc (NASDAQ:AVGO) by 5.2% during the 3rd quarter, Holdings Channel reports. The fund owned 8,055 shares of the semiconductor manufacturer’s stock after acquiring an additional 395 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Broadcom were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in shares of Broadcom by 2,421.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock valued at $981,806,000 after purchasing an additional 3,275,431 shares during the period. Point72 Asset Management L.P. increased its position in shares of Broadcom by 1,808.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 777,480 shares of the semiconductor manufacturer’s stock valued at $223,805,000 after purchasing an additional 736,741 shares during the period. Vanguard Group Inc. increased its position in shares of Broadcom by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 31,797,832 shares of the semiconductor manufacturer’s stock valued at $9,153,324,000 after purchasing an additional 559,961 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of Broadcom by 40,641.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 514,967 shares of the semiconductor manufacturer’s stock valued at $51,497,000 after purchasing an additional 513,703 shares during the period. Finally, Natixis increased its position in shares of Broadcom by 840.6% during the 2nd quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer’s stock valued at $126,871,000 after purchasing an additional 393,880 shares during the period. Hedge funds and other institutional investors own 84.93% of the company’s stock.

Several equities analysts have recently issued reports on AVGO shares. Cowen set a $285.00 price target on Broadcom and gave the company a “hold” rating in a research report on Thursday, October 10th. Daiwa Capital Markets cut Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. Bank of America set a $345.00 price target on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. set a $350.00 price target on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Oppenheimer set a $315.00 target price on Broadcom and gave the stock a “buy” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Broadcom has an average rating of “Buy” and a consensus target price of $312.06.

Shares of Broadcom stock opened at $286.73 on Friday. The stock has a market cap of $114.81 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89. The business has a fifty day simple moving average of $283.13 and a 200-day simple moving average of $286.70. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. Broadcom Inc has a 12 month low of $208.23 and a 12 month high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.10 by ($0.11). The business 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $4.98 EPS. Analysts expect that Broadcom Inc will post 16.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were given a $2.65 dividend. The ex-dividend date was Friday, September 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.70%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

In other news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total value of $5,409,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. In the last ninety days, insiders sold 62,000 shares of company stock valued at $17,550,860. 3.30% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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