Trustcore Financial Services LLC raised its holdings in Broadcom Inc (NASDAQ:AVGO) by 390.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446 shares of the semiconductor manufacturer’s stock after buying an additional 355 shares during the quarter. Trustcore Financial Services LLC’s holdings in Broadcom were worth $114,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AVGO. FMR LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $2,768,560,000. Advisors Asset Management Inc. lifted its stake in shares of Broadcom by 4.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 31,254 shares of the semiconductor manufacturer’s stock valued at $7,583,000 after purchasing an additional 1,407 shares during the period. Schroder Investment Management Group purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $5,876,000. Bank of New York Mellon Corp bought a new position in Broadcom during the 2nd quarter valued at approximately $1,127,357,000. Finally, Atria Investments LLC increased its position in Broadcom by 48.6% during the 3rd quarter. Atria Investments LLC now owns 6,588 shares of the semiconductor manufacturer’s stock valued at $1,626,000 after buying an additional 2,155 shares in the last quarter. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AVGO stock traded down $0.46 during trading hours on Monday, hitting $273.60. The stock had a trading volume of 17,143 shares, compared to its average volume of 2,745,588. Broadcom Inc has a one year low of $197.46 and a one year high of $280.00. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $111.73 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.72.
In other Broadcom news, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total transaction of $2,591,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Insiders sold 99,723 shares of company stock worth $24,926,174 over the last ninety days. Insiders own 3.30% of the company’s stock.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 13th. UBS Group dropped their price target on Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, December 7th. BMO Capital Markets raised their price target on Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, December 7th. Finally, B. Riley upgraded Broadcom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Monday, December 3rd. Nine analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Broadcom currently has an average rating of “Buy” and an average price target of $288.93.
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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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