Bokf Na Raises Stake in Broadcom Inc (NASDAQ:AVGO)

Bokf Na raised its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 10.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,625 shares of the semiconductor manufacturer’s stock after buying an additional 5,892 shares during the quarter. Bokf Na’s holdings in Broadcom were worth $14,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Great Diamond Partners LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $27,000. Private Ocean LLC boosted its position in shares of Broadcom by 1,566.7% during the 4th quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new position in shares of Broadcom in the fourth quarter worth approximately $31,000. Islay Capital Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at $32,000. Finally, Verus Capital Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Several equities analysts recently commented on the stock. Loop Capital raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Friday, March 13th. Mizuho reaffirmed a “buy” rating and issued a $315.00 price target on shares of Broadcom in a research note on Thursday, March 12th. UBS Group dropped their price objective on Broadcom from $360.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, March 13th. KeyCorp lifted their target price on shares of Broadcom from $240.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Robert W. Baird dropped their price target on shares of Broadcom from $400.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirty have given a buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus price target of $314.78.

In related news, SVP Charlie B. Kawwas sold 1,348 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $264.39, for a total transaction of $356,397.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 73,646 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $198.18, for a total transaction of $14,595,164.28. The disclosure for this sale can be found here. Insiders sold a total of 81,994 shares of company stock worth $16,643,562 in the last quarter. Company insiders own 3.00% of the company’s stock.

Shares of AVGO stock traded up $11.76 on Wednesday, reaching $309.82. The stock had a trading volume of 2,162,019 shares, compared to its average volume of 1,970,817. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.44 and a current ratio of 1.56. Broadcom Inc has a 1 year low of $155.67 and a 1 year high of $331.58. The stock has a market cap of $115.94 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92. The company has a 50 day simple moving average of $269.41 and a 200 day simple moving average of $286.14.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.08). The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.99 billion. Broadcom had a net margin of 11.64% and a return on equity of 32.46%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.55 EPS. On average, equities research analysts anticipate that Broadcom Inc will post 17.21 earnings per share for the current fiscal year.

Broadcom Company Profile

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.

Featured Story: Channel Trading

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.