Yorktown Management & Research Co Inc Has $1.31 Million Holdings in Broadcom Inc (AVGO)

Yorktown Management & Research Co Inc raised its stake in Broadcom Inc (NASDAQ:AVGO) by 32.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,300 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,300 shares during the period. Yorktown Management & Research Co Inc’s holdings in Broadcom were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in shares of Broadcom in the 2nd quarter valued at about $20,228,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Broadcom in the 2nd quarter valued at about $829,000. Atria Investments LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at about $1,076,000. Bank of Montreal Can purchased a new position in shares of Broadcom in the 2nd quarter valued at about $116,865,000. Finally, Capital One National Association purchased a new position in shares of Broadcom in the 2nd quarter valued at about $1,515,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Broadcom stock opened at $230.29 on Thursday. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68. The stock has a market cap of $92.46 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.91 and a beta of 0.99. 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the company earned $4.10 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc will post 18.09 EPS for the current fiscal year.

In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $231.03, for a total value of $4,620,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock worth $9,687,345 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

AVGO has been the topic of a number of research reports. MKM Partners lowered their price objective on shares of Broadcom to $255.00 in a research note on Friday, September 7th. Craig Hallum reissued a “buy” rating and issued a $300.00 price objective (down from $330.00) on shares of Broadcom in a research note on Friday, September 7th. Bank of America raised shares of Broadcom from a “neutral” rating to a “buy” rating in a research note on Friday, September 7th. SunTrust Banks lowered their price objective on shares of Broadcom to $325.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Finally, UBS Group lowered their price objective on shares of Broadcom from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Nine equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $290.97.

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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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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