Oxbow Advisors LLC lifted its position in Broadcom Inc (NASDAQ:AVGO) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,263 shares of the semiconductor manufacturer’s stock after acquiring an additional 65 shares during the period. Oxbow Advisors LLC’s holdings in Broadcom were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the company. Ruggie Capital Group purchased a new position in Broadcom during the fourth quarter worth approximately $25,000. AlphaOne Investment Services LLC purchased a new position in Broadcom during the fourth quarter worth approximately $25,000. Accurate Investment Solutions Inc. purchased a new position in Broadcom during the fourth quarter worth approximately $25,000. First Financial Corp IN purchased a new position in Broadcom during the first quarter worth approximately $30,000. Finally, Daiwa SB Investments Ltd. purchased a new position in Broadcom during the first quarter worth approximately $30,000. 84.41% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $291.27, for a total transaction of $5,825,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 9,330 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total value of $2,761,026.90. The disclosure for this sale can be found here. Insiders sold a total of 87,824 shares of company stock worth $26,390,919 in the last quarter. Company insiders own 3.30% of the company’s stock.
A number of equities analysts recently commented on AVGO shares. Mizuho lifted their price objective on Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. KeyCorp lifted their price objective on Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Citigroup assumed coverage on Broadcom in a research report on Friday, March 15th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group lifted their target price on Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the company. Broadcom has an average rating of “Buy” and a consensus price target of $305.03.
Shares of AVGO stock traded down $0.36 on Wednesday, hitting $254.12. The stock had a trading volume of 2,521,357 shares, compared to its average volume of 2,845,687. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $100.59 billion, a PE ratio of 13.50, a P/E/G ratio of 1.19 and a beta of 0.68. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $323.20.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.32 by $1.23. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.12 EPS. Research analysts predict that Broadcom Inc will post 17.65 EPS for the current fiscal year.
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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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