Altavista Wealth Management Inc. boosted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,435 shares of the semiconductor manufacturer’s stock after acquiring an additional 95 shares during the quarter. Altavista Wealth Management Inc.’s holdings in Broadcom were worth $396,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bank boosted its position in shares of Broadcom by 128.2% during the second quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 50 shares during the period. Liberty Wealth Management LLC boosted its position in shares of Broadcom by 62.5% during the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 35 shares during the period. Advisors Preferred LLC purchased a new position in shares of Broadcom during the second quarter valued at approximately $27,000. Garrett Wealth Advisory Group LLC purchased a new position in shares of Broadcom during the third quarter valued at approximately $28,000. Finally, Marquette Asset Management LLC purchased a new position in shares of Broadcom during the third quarter valued at approximately $28,000. 83.48% of the stock is currently owned by institutional investors.
NASDAQ:AVGO traded up $3.20 during trading hours on Wednesday, reaching $309.72. The company’s stock had a trading volume of 1,443,904 shares, compared to its average volume of 2,594,162. The stock has a 50 day moving average price of $303.94 and a two-hundred day moving average price of $285.66. The company has a market capitalization of $125.43 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.18 and a current ratio of 1.32. Broadcom Inc has a 12 month low of $217.61 and a 12 month high of $325.67.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). The business had revenue of $5.52 billion for 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.98 earnings per share. As a group, analysts predict that Broadcom Inc will post 16.97 EPS for the current fiscal year.
In related news, insider Mark David Brazeal sold 2,000 shares of the company’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. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $288.71, for a total value of $5,774,200.00. Over the last ninety days, insiders have sold 62,000 shares of company stock worth $18,432,860. Insiders own 3.30% of the company’s stock.
Several research analysts have issued reports on AVGO shares. Morgan Stanley upgraded Broadcom from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 27th. BMO Capital Markets boosted their price target on Broadcom to $310.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. set a $350.00 price target on Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Sanford C. Bernstein set a $340.00 price target on Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Daiwa Capital Markets lowered Broadcom from a “buy” rating to a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $317.50.
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.
Further Reading: What are trading strategies for the 52-week high/low?
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.