Northwestern Mutual Investment Management Company LLC Increases Stake in Broadcom Inc (NASDAQ:AVGO)

Northwestern Mutual Investment Management Company LLC grew its position in Broadcom Inc (NASDAQ:AVGO) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,159 shares of the semiconductor manufacturer’s stock after acquiring an additional 144 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Broadcom were worth $4,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Pinnacle Bank increased its stake in Broadcom by 128.2% in the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 50 shares during the period. Liberty Wealth Management LLC increased its stake in Broadcom by 62.5% in the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 35 shares during the period. Advisors Preferred LLC purchased a new position in Broadcom in the 2nd quarter worth about $27,000. Garrett Wealth Advisory Group LLC purchased a new position in Broadcom in the 3rd quarter worth about $28,000. Finally, Marquette Asset Management LLC purchased a new position in Broadcom in the 3rd quarter worth about $28,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.43, for a total transaction of $5,788,600.00. Insiders sold a total of 62,000 shares of company stock valued at $17,550,860 over the last quarter. 3.30% of the stock is owned by company insiders.

Shares of NASDAQ:AVGO traded down $1.80 during trading on Wednesday, reaching $313.73. The stock had a trading volume of 87,408 shares, compared to its average volume of 2,641,522. Broadcom Inc has a one year low of $217.61 and a one year high of $323.20. The company has a market capitalization of $124.32 billion, a P/E ratio of 16.66, a PEG ratio of 1.36 and a beta of 0.90. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58. The firm’s 50-day simple moving average is $287.73 and its 200 day simple moving average is $285.03.

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). Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the business posted $4.98 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc will post 16.97 earnings per share for the current fiscal year.

AVGO has been the topic of several recent analyst reports. Sanford C. Bernstein set a $340.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday, September 13th. Cascend Securities raised their target price on shares of Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Rosenblatt Securities set a $370.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. Loop Capital downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Co raised their target price on shares of Broadcom from $290.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. One investment 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 given a strong buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus target price of $314.72.

About Broadcom

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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