Broadcom Inc (NASDAQ:AVGO) Shares Bought by NuWave Investment Management LLC
NuWave Investment Management LLC raised its holdings in Broadcom Inc (NASDAQ:AVGO) by 4,323.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 575 shares of the semiconductor manufacturer's stock after acquiring an additional 562 shares during the period. NuWave Investment Management LLC's holdings in Broadcom were worth $158,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Nuveen Asset Management LLC raised its holdings in Broadcom by 2,421.3% in 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 acquiring an additional 3,275,431 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Broadcom by 1,808.4% in 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 acquiring an additional 736,741 shares during the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 1.8% in 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 acquiring an additional 559,961 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in Broadcom by 40,641.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 514,967 shares of the semiconductor manufacturer's stock valued at $51,497,000 after acquiring an additional 513,703 shares during the last quarter. Finally, Natixis raised its holdings in Broadcom by 840.6% in the 2nd quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer's stock valued at $126,871,000 after acquiring an additional 393,880 shares during the last quarter. Institutional investors own 84.93% of the company's stock.
Shares of Broadcom stock opened at $288.48 on Thursday. The company has a fifty day moving average price of $282.64 and a 200 day moving average price of $286.83. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58. Broadcom Inc has a twelve month low of $208.23 and a twelve month high of $323.20. The stock has a market cap of $111.73 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89.
Broadcom (NASDAQ:AVGO) last announced 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). The business had revenue of $5.52 billion for the quarter, compared to analysts' expectations of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company posted $4.98 earnings per share. Analysts forecast that Broadcom Inc will post 16.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.67%. Broadcom's payout ratio is currently 56.29%.
Several research analysts have weighed in on AVGO shares. Morgan Stanley boosted their price target on Broadcom from $250.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, September 13th. ValuEngine downgraded Broadcom from a "hold" rating to a "sell" rating in a report on Wednesday, October 2nd. Daiwa Capital Markets downgraded Broadcom from a "buy" rating to a "neutral" rating in a report on Thursday, August 15th. Jefferies Financial Group set a $350.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Friday, September 13th. Finally, Mizuho restated a "buy" rating and set a $340.00 price objective (up from $330.00) on shares of Broadcom in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have issued a buy rating to the company's stock. The stock has an average rating of "Buy" and a consensus target price of $312.06.
In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $288.71, for a total value of $5,774,200.00. Corporate insiders own 3.30% of the company's stock.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 four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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