287 Shares in Broadcom Inc (AVGO) Acquired by Financial Gravity Companies Inc.

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Financial Gravity Companies Inc. acquired a new position in Broadcom Inc (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The firm acquired 287 shares of the semiconductor manufacturer’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Viking Fund Management LLC increased its holdings in Broadcom by 50.0% during the 4th quarter. Viking Fund Management LLC now owns 9,000 shares of the semiconductor manufacturer’s stock valued at $2,289,000 after purchasing an additional 3,000 shares during the period. Independence Bank of Kentucky purchased a new position in Broadcom during the 4th quarter valued at about $187,000. Cambridge Investment Research Advisors Inc. increased its holdings in Broadcom by 134.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock valued at $4,834,000 after purchasing an additional 11,234 shares during the period. CHURCHILL MANAGEMENT Corp increased its holdings in Broadcom by 183.2% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 80,057 shares of the semiconductor manufacturer’s stock valued at $20,357,000 after purchasing an additional 51,786 shares during the period. Finally, Cobiz Wealth LLC increased its holdings in Broadcom by 2.6% during the 4th quarter. Cobiz Wealth LLC now owns 26,674 shares of the semiconductor manufacturer’s stock valued at $6,783,000 after purchasing an additional 665 shares during the period. Hedge funds and other institutional investors own 89.34% of the company’s stock.

Shares of AVGO opened at $274.06 on Monday. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. Broadcom Inc has a 52 week low of $197.46 and a 52 week high of $280.00. The company has a market capitalization of $111.62 billion, a PE ratio of 14.73, a P/E/G ratio of 1.24 and a beta of 0.72.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm posted $4.59 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.

In other news, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total value of $2,591,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total value of $5,099,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,723 shares of company stock worth $24,926,174. Insiders own 3.30% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 13th. UBS Group reduced their price target on Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, December 7th. BMO Capital Markets boosted their price target on Broadcom from $230.00 to $250.00 and gave the company a “market perform” rating in a report on Friday, December 7th. Finally, B. Riley upgraded Broadcom from a “neutral” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Monday, December 3rd. Nine research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $288.93.

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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