Broadcom Inc (NASDAQ:AVGO) Shares Bought by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC grew its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 8.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,282 shares of the semiconductor manufacturer’s stock after acquiring an additional 102 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Broadcom were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Parkside Financial Bank & Trust lifted its holdings in shares of Broadcom by 9.1% in the first quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock valued at $119,000 after buying an additional 33 shares during the period. CRA Financial Services LLC lifted its holdings in shares of Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after buying an additional 33 shares during the period. Liberty Wealth Management LLC lifted its holdings in shares of Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 35 shares during the period. Tarbox Family Office Inc. lifted its holdings in shares of Broadcom by 20.2% in the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after buying an additional 36 shares during the period. Finally, Enterprise Financial Services Corp lifted its holdings in shares of Broadcom by 14.7% in the second quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after buying an additional 37 shares during the period. Institutional investors own 83.13% of the company’s stock.

AVGO has been the subject of several research analyst reports. SunTrust Banks cut their price objective on Broadcom to $307.00 and set a “buy” rating for the company in a report on Friday, June 14th. Citigroup cut their price objective on Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. Summit Redstone upgraded Broadcom to a “buy” rating in a report on Friday, June 14th. Royal Bank of Canada initiated coverage on Broadcom in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 price objective for the company. Finally, Craig Hallum restated a “buy” rating and issued a $315.00 price objective (down previously from $325.00) on shares of Broadcom in a report on Friday, June 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $304.32.

In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $292.16, for a total transaction of $5,843,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold 65,388 shares of company stock worth $18,198,482 over the last three months. 3.30% of the stock is owned by insiders.

NASDAQ:AVGO traded down $15.49 during trading hours on Friday, hitting $272.13. 2,031,028 shares of the company’s stock traded hands, compared to its average volume of 2,043,362. The firm has a market cap of $114.49 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.41 and a beta of 0.92. Broadcom Inc has a twelve month low of $204.68 and a twelve month high of $323.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.13 and a current ratio of 1.26. The stock’s fifty day moving average price is $283.70 and its two-hundred day moving average price is $286.18.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.03. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. Broadcom’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.88 earnings per share. On average, equities research analysts predict that Broadcom Inc will post 17.23 earnings per share for the current year.

About Broadcom

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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