S. R. Schill & Associates Raises Stock Position in Broadcom Inc (NASDAQ:AVGO)

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S. R. Schill & Associates raised its stake in Broadcom Inc (NASDAQ:AVGO) by 31.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,635 shares of the semiconductor manufacturer’s stock after buying an additional 1,580 shares during the period. Broadcom makes up approximately 1.2% of S. R. Schill & Associates’ holdings, making the stock its 16th largest holding. S. R. Schill & Associates’ holdings in Broadcom were worth $2,094,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AVGO. Capital Square LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $39,000. Pictet Asset Management Ltd. grew its position in shares of Broadcom by 0.8% in the first quarter. Pictet Asset Management Ltd. now owns 181,027 shares of the semiconductor manufacturer’s stock valued at $42,921,000 after purchasing an additional 1,390 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Broadcom in the first quarter valued at approximately $1,043,000. Advisor Group Holdings Inc. acquired a new stake in shares of Broadcom in the first quarter valued at approximately $16,803,000. Finally, Fulton Bank N. A. grew its position in shares of Broadcom by 4.8% in the second quarter. Fulton Bank N. A. now owns 11,289 shares of the semiconductor manufacturer’s stock valued at $3,562,000 after purchasing an additional 513 shares during the last quarter. 81.19% of the stock is owned by institutional investors.

In other Broadcom news, CEO Hock E. Tan sold 57,171 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $308.49, for a total transaction of $17,636,681.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $322.51, for a total transaction of $1,612,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 480,747 shares of company stock valued at $150,544,165 over the last three months. 3.30% of the stock is currently owned by company insiders.

AVGO has been the topic of a number of analyst reports. Oppenheimer initiated coverage on shares of Broadcom in a research report on Tuesday, June 16th. They set a “buy” rating and a $350.00 target price on the stock. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 17th. Argus raised their target price on shares of Broadcom from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Susquehanna Bancshares raised their target price on shares of Broadcom from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Mizuho restated a “buy” rating and set a $350.00 target price (up previously from $325.00) on shares of Broadcom in a research report on Sunday, June 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $339.25.

Shares of NASDAQ AVGO traded up $4.65 during midday trading on Friday, hitting $316.75. The company’s stock had a trading volume of 2,472,008 shares, compared to its average volume of 1,611,354. Broadcom Inc has a 1-year low of $155.67 and a 1-year high of $331.58. The firm’s fifty day moving average price is $310.87 and its 200-day moving average price is $284.78. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.01 and a current ratio of 2.15. The firm has a market cap of $127.39 billion, a P/E ratio of 56.66, a P/E/G ratio of 1.49 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 4th. The semiconductor manufacturer reported $5.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $5.14. Broadcom had a net margin of 10.97% and a return on equity of 32.00%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same period in the previous year, the business posted $5.21 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc will post 17.47 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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