Avitas Wealth Management LLC decreased its position in Broadcom Inc (NASDAQ:AVGO) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,895 shares of the semiconductor manufacturer’s stock after selling 246 shares during the period. Avitas Wealth Management LLC’s holdings in Broadcom were worth $2,176,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AVGO. HHM Wealth Advisors LLC bought a new stake in shares of Broadcom during the first quarter valued at approximately $29,000. Verus Capital Partners LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $34,000. Private Ocean LLC increased its stake in shares of Broadcom by 45.0% in the 1st quarter. Private Ocean LLC now owns 145 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 45 shares during the last quarter. Atwood & Palmer Inc. raised its position in shares of Broadcom by 532.0% in the 1st quarter. Atwood & Palmer Inc. now owns 158 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 133 shares during the period. Finally, Price Wealth LLC acquired a new position in Broadcom during the second quarter valued at approximately $37,000. Institutional investors own 81.19% of the company’s stock.
Several research analysts have weighed in on AVGO shares. Susquehanna Bancshares lifted their target price on Broadcom from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Bank of America lifted their price objective on Broadcom from $305.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Loop Capital started coverage on Broadcom in a research note on Friday, June 5th. They set a “reduce” rating and a $260.00 target price for the company. Evercore ISI raised shares of Broadcom from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $315.00 to $380.00 in a research note on Friday, June 26th. Finally, Piper Sandler increased their price objective on shares of Broadcom from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $339.25.
AVGO traded up $4.65 on Friday, reaching $316.75. The company had a trading volume of 2,472,008 shares, compared to its average volume of 1,611,354. The stock has a market cap of $127.39 billion, a P/E ratio of 56.66, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.01 and a current ratio of 2.15. Broadcom Inc has a fifty-two week low of $155.67 and a fifty-two week high of $331.58. The company’s fifty day moving average is $310.87 and its 200 day moving average is $284.78.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 4th. The semiconductor manufacturer reported $5.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $5.14. Broadcom had a return on equity of 32.00% and a net margin of 10.97%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.69 billion. During the same period last year, the firm posted $5.21 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc will post 17.47 EPS for the current year.
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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