Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,260 shares of the semiconductor manufacturer’s stock after selling 265 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Broadcom were worth $3,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Jennison Associates LLC raised its stake in Broadcom by 419.8% in the 1st quarter. Jennison Associates LLC now owns 1,860,573 shares of the semiconductor manufacturer’s stock valued at $1,171,566,000 after purchasing an additional 1,502,640 shares during the last quarter. BlackRock Inc. grew its holdings in Broadcom by 4.3% in the 1st quarter. BlackRock Inc. now owns 28,569,124 shares of the semiconductor manufacturer’s stock valued at $17,989,404,000 after buying an additional 1,180,078 shares during the period. Fisher Asset Management LLC grew its holdings in Broadcom by 88.9% in the 1st quarter. Fisher Asset Management LLC now owns 1,421,008 shares of the semiconductor manufacturer’s stock valued at $894,781,000 after buying an additional 668,719 shares during the period. Wellington Management Group LLP grew its holdings in Broadcom by 55.7% in the 1st quarter. Wellington Management Group LLP now owns 1,632,268 shares of the semiconductor manufacturer’s stock valued at $1,027,807,000 after buying an additional 584,242 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Broadcom by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 36,975,704 shares of the semiconductor manufacturer’s stock valued at $23,282,861,000 after buying an additional 510,546 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AVGO shares. KeyCorp lowered their price target on Broadcom from $780.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Broadcom from $635.00 to $575.00 and set a “buy” rating for the company in a report on Tuesday, October 18th. BMO Capital Markets lowered their price target on Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a report on Friday, September 2nd. StockNews.com upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 5th. Finally, Truist Financial decreased their target price on Broadcom from $658.00 to $630.00 and set a “buy” rating for the company in a report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $675.13.

Broadcom Stock Up 0.7 %

NASDAQ AVGO traded up $3.59 on Thursday, reaching $533.64. The company had a trading volume of 1,396,717 shares, compared to its average volume of 2,229,935. The firm has a market capitalization of $216.12 billion, a PE ratio of 23.08, a P/E/G ratio of 0.95 and a beta of 1.08. Broadcom Inc. has a 1 year low of $415.07 and a 1 year high of $677.76. The firm has a 50-day moving average of $472.86 and a 200-day moving average of $508.82. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.32 and a quick ratio of 2.05.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.07 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $0.23. Broadcom had a return on equity of 63.42% and a net margin of 31.96%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter in the prior year, the business earned $6.32 EPS. Broadcom’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 34.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were given a $4.10 dividend. This represents a $16.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, September 21st. Broadcom’s payout ratio is 70.93%.

About Broadcom

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Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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