Gilbert & Cook Inc. Buys Shares of 873 Broadcom Inc (NASDAQ:AVGO)

Gilbert & Cook Inc. bought a new stake in shares of Broadcom Inc (NASDAQ:AVGO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 873 shares of the semiconductor manufacturer’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bank boosted its position in shares of Broadcom by 128.2% in the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Liberty Wealth Management LLC boosted its position in shares of Broadcom by 62.5% in the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 35 shares in the last quarter. Destination Wealth Management acquired a new stake in shares of Broadcom in the 1st quarter worth $41,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Broadcom in the 1st quarter worth $45,000. Finally, Citizens Financial Group Inc RI boosted its position in shares of Broadcom by 257.1% in the 1st quarter. Citizens Financial Group Inc RI now owns 175 shares of the semiconductor manufacturer’s stock worth $52,000 after purchasing an additional 126 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $292.16, for a total transaction of $5,843,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Ingram sold 13,466 shares of Broadcom stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $278.78, for a total value of $3,754,051.48. The disclosure for this sale can be found here. Insiders have sold a total of 65,388 shares of company stock valued at $18,198,482 in the last quarter. Company insiders own 3.30% of the company’s stock.

Shares of NASDAQ AVGO traded up $5.66 during trading on Monday, reaching $279.44. 55,842 shares of the company traded hands, compared to its average volume of 2,168,900. The firm’s fifty day simple moving average is $285.11 and its 200 day simple moving average is $286.03. The stock has a market cap of $106.94 billion, a P/E ratio of 14.85, a PEG ratio of 1.32 and a beta of 0.92. Broadcom Inc has a 12-month low of $204.68 and a 12-month high of $323.20. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.03. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $4.88 EPS. As a group, research analysts expect that Broadcom Inc will post 17.23 EPS for the current year.

AVGO has been the subject of a number of recent analyst reports. Raymond James reissued a “hold” rating on shares of Broadcom in a research report on Friday, June 14th. Daiwa Capital Markets lowered Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday. KeyCorp raised their target price on Broadcom from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley reduced their target price on Broadcom from $266.00 to $262.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, ValuEngine lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus price target of $304.32.

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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