Broadcom Inc (NASDAQ:AVGO) Shares Bought by Alera Investment Advisors LLC

Alera Investment Advisors LLC raised its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198 shares of the semiconductor manufacturer’s stock after purchasing an additional 54 shares during the quarter. Alera Investment Advisors LLC’s holdings in Broadcom were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co lifted its holdings in Broadcom by 171.6% during the first quarter. Meiji Yasuda Life Insurance Co now owns 6,051 shares of the semiconductor manufacturer’s stock valued at $1,819,000 after purchasing an additional 3,823 shares during the last quarter. Andra AP fonden purchased a new stake in Broadcom during the first quarter valued at about $3,639,000. GWM Advisors LLC lifted its holdings in Broadcom by 71.2% during the first quarter. GWM Advisors LLC now owns 4,252 shares of the semiconductor manufacturer’s stock valued at $1,279,000 after purchasing an additional 1,768 shares during the last quarter. Williams Jones & Associates LLC lifted its holdings in Broadcom by 4.1% during the first quarter. Williams Jones & Associates LLC now owns 1,595 shares of the semiconductor manufacturer’s stock valued at $480,000 after purchasing an additional 63 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Broadcom by 40.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,513 shares of the semiconductor manufacturer’s stock valued at $3,161,000 after purchasing an additional 3,010 shares during the last quarter. 84.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of AVGO opened at $283.48 on Wednesday. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $323.20. The stock has a market cap of $110.92 billion, a PE ratio of 15.05, a P/E/G ratio of 1.28 and a beta of 0.87. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. The company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. Broadcom’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.12 earnings per share. As a group, sell-side analysts predict that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. ValuEngine raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. BidaskClub downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. KeyCorp upped their price objective on shares of Broadcom from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Mizuho upped their price objective on shares of Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus price target of $305.55.

In related news, SVP Charlie B. Kawwas sold 9,330 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total value of $2,761,026.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kirsten M. Spears sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $306.31, for a total transaction of $1,225,240.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,824 shares of company stock worth $26,390,919. 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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