Squar Milner Financial Services LLC Acquires 552 Shares of Broadcom Inc (NASDAQ:AVGO)

Squar Milner Financial Services LLC grew its holdings in Broadcom Inc (NASDAQ:AVGO) by 54.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,565 shares of the semiconductor manufacturer’s stock after purchasing an additional 552 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Broadcom were worth $451,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Northern Trust Corp raised its holdings in shares of Broadcom by 1.3% in the 1st quarter. Northern Trust Corp now owns 4,919,584 shares of the semiconductor manufacturer’s stock valued at $1,479,369,000 after purchasing an additional 62,461 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Broadcom by 10.9% in the 1st quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock valued at $1,097,834,000 after purchasing an additional 359,736 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Broadcom by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,683,418 shares of the semiconductor manufacturer’s stock valued at $506,221,000 after purchasing an additional 22,458 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Broadcom by 12.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,266 shares of the semiconductor manufacturer’s stock worth $501,062,000 after acquiring an additional 181,372 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Broadcom by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock worth $418,142,000 after acquiring an additional 96,233 shares in the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.

A number of research firms recently commented on AVGO. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $253.03 target price for the company in a research report on Friday, June 14th. UBS Group lowered their target price on shares of Broadcom from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Mizuho lowered their target price on shares of Broadcom from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, June 14th. SunTrust Banks lowered their target price on shares of Broadcom to $307.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Finally, Citigroup lowered their target price on shares of Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Broadcom has a consensus rating of “Buy” and a consensus target price of $303.68.

In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $264.00, for a total transaction of $5,280,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 13,466 shares of the business’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $278.78, for a total transaction of $3,754,051.48. The disclosure for this sale can be found here. Insiders have sold 65,388 shares of company stock valued at $18,198,482 over the last quarter. Insiders own 3.30% of the company’s stock.

Shares of NASDAQ:AVGO traded down $12.00 on Monday, hitting $266.53. 1,183,995 shares of the company were exchanged, compared to its average volume of 2,144,736. Broadcom Inc has a 1-year low of $202.77 and a 1-year high of $323.20. The stock has a 50 day moving average price of $285.31. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.35 and a beta of 0.92.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $4.88 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc will post 17.43 EPS for the current fiscal year.

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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