Worldquant Millennium Quantitative Strategies LLC acquired a new position in shares of Broadcom Inc (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,372 shares of the semiconductor manufacturer’s stock, valued at approximately $5,914,000.
Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Massey Quick Simon & CO. LLC acquired a new position in Broadcom in the 2nd quarter valued at approximately $104,000. Zions Bancorporation acquired a new position in Broadcom in the 2nd quarter valued at approximately $109,000. MUFG Americas Holdings Corp acquired a new position in Broadcom in the 2nd quarter valued at approximately $109,000. MUFG Securities EMEA plc acquired a new position in Broadcom in the 2nd quarter valued at approximately $117,000. Finally, First Personal Financial Services acquired a new position in Broadcom in the 2nd quarter valued at approximately $126,000. 84.35% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on AVGO shares. MKM Partners cut their price target on Broadcom to $255.00 in a report on Friday, September 7th. Benchmark assumed coverage on Broadcom in a report on Friday, June 15th. They issued a “buy” rating and a $300.00 price target for the company. Longbow Research assumed coverage on Broadcom in a research note on Wednesday, May 30th. They issued a “buy” rating and a $295.00 price objective on the stock. Sanford C. Bernstein set a $320.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Friday, June 8th. Finally, B. Riley lowered their price objective on Broadcom from $310.00 to $308.00 and set a “buy” rating on the stock in a research note on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $288.56.
NASDAQ AVGO opened at $236.34 on Friday. The company has a market cap of $99.24 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. Broadcom Inc has a one year low of $197.46 and a one year high of $285.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. Broadcom’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.10 EPS. analysts forecast that Broadcom Inc will post 18.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, September 19th will be given a dividend of $1.75 per share. The ex-dividend date is Tuesday, September 18th. This represents a $7.00 dividend on an annualized basis and a yield of 2.96%. Broadcom’s dividend payout ratio (DPR) is presently 48.95%.
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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