Stephens Inc. AR Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stephens Inc. AR boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,626 shares of the semiconductor manufacturer’s stock after buying an additional 1,170 shares during the quarter. Broadcom makes up approximately 0.9% of Stephens Inc. AR’s investment portfolio, making the stock its 15th biggest holding. Stephens Inc. AR’s holdings in Broadcom were worth $54,278,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. WealthPlan Investment Management LLC acquired a new stake in Broadcom in the third quarter valued at approximately $435,000. Massachusetts Financial Services Co. MA boosted its stake in Broadcom by 5.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 245,904 shares of the semiconductor manufacturer’s stock valued at $204,243,000 after acquiring an additional 12,892 shares in the last quarter. Blueshift Asset Management LLC boosted its stake in Broadcom by 41.5% in the third quarter. Blueshift Asset Management LLC now owns 416 shares of the semiconductor manufacturer’s stock valued at $346,000 after acquiring an additional 122 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Broadcom by 6.0% in the third quarter. Sequoia Financial Advisors LLC now owns 4,741 shares of the semiconductor manufacturer’s stock valued at $3,938,000 after acquiring an additional 268 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in Broadcom by 5.0% in the third quarter. Shell Asset Management Co. now owns 19,353 shares of the semiconductor manufacturer’s stock valued at $16,074,000 after acquiring an additional 917 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVGO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Melius started coverage on shares of Broadcom in a research note on Monday. They set a “buy” rating and a $1,850.00 price objective for the company. Jefferies Financial Group started coverage on shares of Broadcom in a research note on Monday, May 13th. They set a “buy” rating and a $1,550.00 price objective for the company. Mizuho lifted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $1,341.16.

Get Our Latest Report on Broadcom

Broadcom Stock Performance

AVGO traded up $2.73 on Friday, reaching $1,404.00. The stock had a trading volume of 398,524 shares, compared to its average volume of 2,772,063. Broadcom Inc. has a 12-month low of $788.78 and a 12-month high of $1,445.40. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $1,336.46 and its two-hundred day moving average price is $1,227.53. The company has a market cap of $650.64 billion, a P/E ratio of 52.30, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17.

Broadcom (NASDAQ:AVGOGet Free Report) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.83 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 36.06 earnings per share for the current year.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company Profile

(Free Report)

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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