Traders sold shares of Broadcom Inc (NASDAQ:AVGO) on strength during trading on Thursday. $90.19 million flowed into the stock on the tick-up and $153.28 million flowed out of the stock on the tick-down, for a money net flow of $63.09 million out of the stock. Of all companies tracked, Broadcom had the 0th highest net out-flow for the day. Broadcom traded up $2.29 for the day and closed at $230.00
A number of equities research analysts recently weighed in on AVGO shares. ValuEngine downgraded Broadcom from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Mizuho reaffirmed a “buy” rating and set a $280.00 price objective on shares of Broadcom in a research report on Friday, September 7th. Bank of America raised Broadcom from a “neutral” rating to a “buy” rating in a research report on Friday, September 7th. MKM Partners dropped their price objective on Broadcom to $255.00 in a research report on Friday, September 7th. Finally, BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Nine equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $290.02.
The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. The firm has a market capitalization of $95.09 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.91 and a beta of 0.99.
In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $231.03, for a total value of $4,620,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,194 shares of company stock valued at $14,266,145. Company insiders own 3.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. Marcus Capital LLC purchased a new position in shares of Broadcom in the second quarter worth about $364,000. BP PLC purchased a new position in shares of Broadcom in the second quarter worth about $12,135,000. Wesbanco Bank Inc. purchased a new position in shares of Broadcom in the second quarter worth about $19,879,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Broadcom by 134.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock worth $4,834,000 after purchasing an additional 11,234 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Broadcom in the second quarter worth about $10,500,000. Hedge funds and other institutional investors own 85.12% of the company’s stock.
Broadcom Company Profile (NASDAQ:AVGO)
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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