Broadcom Inc (AVGO) Stake Decreased by Boys Arnold & Co. Inc.

Boys Arnold & Co. Inc. cut its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,738 shares of the semiconductor manufacturer’s stock after selling 66 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Broadcom were worth $523,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BTIM Corp. boosted its position in shares of Broadcom by 1.7% in the 1st quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock worth $566,000 after buying an additional 32 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Broadcom by 9.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock worth $119,000 after buying an additional 33 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Broadcom by 5.4% in the 1st quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock worth $199,000 after buying an additional 34 shares in the last quarter. Lincoln National Corp boosted its position in shares of Broadcom by 4.1% in the 4th quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock worth $236,000 after buying an additional 37 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Broadcom by 1.4% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after buying an additional 40 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

AVGO has been the topic of several recent research reports. DA Davidson boosted their price objective on shares of Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Jefferies Financial Group boosted their price objective on shares of Broadcom from $314.00 to $341.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. KeyCorp upped their target price on shares of Broadcom from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Deutsche Bank upped their target price on shares of Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty have given a buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus target price of $303.41.

In related news, insider Kirsten M. Spears sold 4,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $306.31, for a total transaction of $1,225,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas H. Krause sold 14,494 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total transaction of $4,282,252.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,824 shares of company stock worth $26,390,919. Insiders own 3.30% of the company’s stock.

Shares of AVGO stock opened at $303.96 on Friday. The stock has a market cap of $120.36 billion, a PE ratio of 16.14, a P/E/G ratio of 1.42 and a beta of 0.68. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $323.20. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.12 EPS. Analysts forecast that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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