Leisure Capital Management grew its position in shares of Broadcom Inc (NASDAQ:AVGO) by 6.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,988 shares of the semiconductor manufacturer’s stock after buying an additional 171 shares during the quarter. Leisure Capital Management’s holdings in Broadcom were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of AVGO. Oregon Public Employees Retirement Fund lifted its position in shares of Broadcom by 26,295.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after buying an additional 11,904,869 shares in the last quarter. Norges Bank bought a new position in shares of Broadcom during the 4th quarter worth approximately $1,055,582,000. Vanguard Group Inc lifted its position in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after buying an additional 2,094,847 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Broadcom by 85.2% during the 4th quarter. Thornburg Investment Management Inc. now owns 825,050 shares of the semiconductor manufacturer’s stock worth $209,794,000 after buying an additional 379,637 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Broadcom by 3.8% during the 4th quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after buying an additional 374,911 shares in the last quarter. 86.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. ValuEngine raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. KeyCorp lifted their target price on shares of Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Mizuho lifted their target price on shares of Broadcom from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Zacks Investment Research cut shares of Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $304.88.
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 Zacks’ consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.12 earnings per share. As a group, equities analysts predict that Broadcom Inc will post 17.65 earnings per share for the current year.
In other Broadcom news, insider Kirsten M. Spears sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $306.31, for a total value of $1,225,240.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Charlie B. Kawwas sold 9,330 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total transaction of $2,761,026.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,824 shares of company stock worth $26,390,919. Corporate insiders own 3.30% of the company’s stock.
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Broadcom Company 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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