Farr Miller & Washington LLC DC Invests $455,000 in Broadcom Inc. (NASDAQ:AVGO)

Farr Miller & Washington LLC DC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,250 shares of the semiconductor manufacturer’s stock, valued at approximately $455,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,450,598 shares of the semiconductor manufacturer’s stock valued at $10,557,343,000 after buying an additional 135,603 shares in the last quarter. BlackRock Inc. lifted its position in shares of Broadcom by 2.9% during the 2nd quarter. BlackRock Inc. now owns 26,151,390 shares of the semiconductor manufacturer’s stock valued at $8,253,640,000 after buying an additional 735,944 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Broadcom by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,926 shares of the semiconductor manufacturer’s stock valued at $1,167,103,000 after buying an additional 175,771 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Broadcom by 4.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,152,947 shares of the semiconductor manufacturer’s stock valued at $995,102,000 after buying an additional 129,659 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Broadcom by 20.1% during the 1st quarter. Morgan Stanley now owns 1,958,028 shares of the semiconductor manufacturer’s stock valued at $464,250,000 after buying an additional 327,153 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

In other Broadcom news, CEO Hock E. Tan sold 78,125 shares of Broadcom stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $390.20, for a total value of $30,484,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raul J. Fernandez bought 84 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average cost of $358.11 per share, with a total value of $30,081.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 468,161 shares of company stock valued at $173,787,430. 3.30% of the stock is currently owned by corporate insiders.

AVGO has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Broadcom from $322.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 4th. Barclays raised their price objective on Broadcom from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Morgan Stanley raised their price objective on Broadcom from $358.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Finally, Truist raised their price objective on Broadcom from $360.00 to $411.00 in a report on Friday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $384.73.

NASDAQ AVGO opened at $401.58 on Tuesday. The company has a market cap of $162.44 billion, a P/E ratio of 75.34, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.04 and a quick ratio of 1.88. The stock has a 50-day moving average of $374.93 and a two-hundred day moving average of $337.07. Broadcom Inc. has a 1-year low of $155.67 and a 1-year high of $402.16.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.24 by $0.16. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. Broadcom’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.16 EPS. On average, analysts anticipate that Broadcom Inc. will post 18.15 EPS for the current fiscal year.

Broadcom 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 three segments: Semiconductor Solutions, Infrastructure Software, and Intellectual Property licensing.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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