Global Retirement Partners LLC decreased its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 236 shares of the semiconductor manufacturer’s stock after selling 81 shares during the quarter. Global Retirement Partners LLC’s holdings in Broadcom were worth $71,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc increased its position in Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. BKD Wealth Advisors LLC acquired a new position in Broadcom in the 4th quarter worth about $570,000. Nachman Norwood & Parrott Inc acquired a new position in Broadcom in the 4th quarter worth about $238,000. DeDora Capital Inc. acquired a new position in Broadcom in the 4th quarter worth about $984,000. Finally, Eastern Bank increased its position in Broadcom by 0.5% in the 4th quarter. Eastern Bank now owns 62,037 shares of the semiconductor manufacturer’s stock worth $15,774,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
Several research analysts have weighed in on AVGO shares. DA Davidson upped their target price on Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. MKM Partners increased their price objective on Broadcom to $310.00 and gave the company a “buy” rating in a report on Monday, March 18th. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $365.00 in a research note on Monday, March 18th. Finally, Loop Capital increased their target price on Broadcom to $315.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have given a buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus target price of $304.88.
Shares of AVGO opened at $289.89 on Monday. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $323.20. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $114.75 billion, a PE ratio of 15.40, a P/E/G ratio of 1.35 and a beta of 0.68.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The business had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the firm posted $5.12 EPS. Broadcom’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc will post 17.65 earnings per share for the current year.
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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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