LFA Lugano Financial Advisors SA boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 82.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 556 shares of the semiconductor manufacturer’s stock after purchasing an additional 251 shares during the period. LFA Lugano Financial Advisors SA’s holdings in Broadcom were worth $153,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Flossbach Von Storch SE increased its holdings in shares of Broadcom by 144.6% during the second quarter. Flossbach Von Storch SE now owns 257,267 shares of the semiconductor manufacturer’s stock worth $70,916,000 after buying an additional 152,070 shares in the last quarter. DJE Kapital AG boosted its holdings in shares of Broadcom by 2.6% in the 2nd quarter. DJE Kapital AG now owns 139,818 shares of the semiconductor manufacturer’s stock worth $38,188,000 after acquiring an additional 3,558 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Broadcom by 47.4% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 2,287 shares of the semiconductor manufacturer’s stock worth $630,000 after acquiring an additional 735 shares in the last quarter. Martin Investment Management LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $221,000. Finally, Acadian Asset Management LLC increased its holdings in Broadcom by 112.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,362,125 shares of the semiconductor manufacturer’s stock valued at $375,447,000 after purchasing an additional 720,587 shares in the last quarter. 76.43% of the stock is owned by institutional investors.
Broadcom Price Performance
Broadcom stock opened at $355.22 on Thursday. The business’s 50-day simple moving average is $348.26 and its 200 day simple moving average is $293.39. 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 stock has a market cap of $1.68 trillion, a price-to-earnings ratio of 90.62, a P/E/G ratio of 1.42 and a beta of 1.19. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is 60.20%.
Insiders Place Their Bets
In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s 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 transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,218,280. 2.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. lifted their price target on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Bank of America increased their price objective on shares of Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Morgan Stanley set a $409.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $372.52.
Check Out Our Latest Stock Analysis on Broadcom
About Broadcom
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.
Featured Stories
- Five stocks we like better than Broadcom
- What Do S&P 500 Stocks Tell Investors About the Market?
- Rare Earth Stocks: The Truce That Isn’t a Truce
- Conference Calls and Individual Investors
- Carving Up Profits: 3 Food Stocks on the Thanksgiving Table
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- C3.ai’s Reset: Why New Leadership Could Spark a Turnaround
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.
