Boston Private Wealth LLC Raises Holdings in Broadcom Inc (AVGO)

Boston Private Wealth LLC grew its stake in Broadcom Inc (NASDAQ:AVGO) by 20.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,559 shares of the semiconductor manufacturer’s stock after purchasing an additional 21,700 shares during the quarter. Broadcom comprises about 1.1% of Boston Private Wealth LLC’s holdings, making the stock its 21st biggest holding. Boston Private Wealth LLC’s holdings in Broadcom were worth $31,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Massey Quick Simon & CO. LLC bought a new position in shares of Broadcom in the 2nd quarter worth about $104,000. Zions Bancorporation bought a new position in shares of Broadcom in the 2nd quarter worth about $109,000. MUFG Americas Holdings Corp bought a new position in shares of Broadcom in the 2nd quarter worth about $109,000. MUFG Securities EMEA plc bought a new position in shares of Broadcom in the 2nd quarter worth about $117,000. Finally, First Personal Financial Services bought a new position in shares of Broadcom in the 2nd quarter worth about $126,000. Institutional investors and hedge funds own 85.12% of the company’s stock.

AVGO has been the subject of several research reports. ValuEngine lowered shares of Broadcom from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Barclays initiated coverage on shares of Broadcom in a research note on Tuesday, August 7th. They issued an “overweight” rating and a $265.00 price target for the company. BidaskClub lowered shares of Broadcom from a “hold” rating to a “sell” rating in a research note on Saturday, August 11th. Bank of America upgraded shares of Broadcom from a “neutral” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Craig Hallum reiterated a “buy” rating and issued a $300.00 price target (down from $330.00) on shares of Broadcom in a research note on Friday, September 7th. Nine research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $290.02.

AVGO opened at $229.90 on Monday. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $95.05 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.16. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.10 earnings per share. On average, equities research analysts predict that Broadcom Inc will post 18.09 earnings per share for the current year.

In other news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $246.52, for a total transaction of $294,344.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,194 shares of company stock worth $14,266,145. 3.30% of the stock is owned by company insiders.

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About Broadcom

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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