Broadcom Inc (NASDAQ:AVGO) Stock Position Raised by M&R Capital Management Inc.

M&R Capital Management Inc. lifted its position in Broadcom Inc (NASDAQ:AVGO) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,230 shares of the semiconductor manufacturer’s stock after buying an additional 37 shares during the quarter. Broadcom makes up 2.8% of M&R Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. M&R Capital Management Inc.’s holdings in Broadcom were worth $11,377,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVGO. Capital International Investors grew its stake in Broadcom by 16.5% during the 1st quarter. Capital International Investors now owns 34,403,752 shares of the semiconductor manufacturer’s stock worth $8,157,136,000 after purchasing an additional 4,864,220 shares in the last quarter. Capital Research Global Investors grew its stake in Broadcom by 8.6% during the 1st quarter. Capital Research Global Investors now owns 29,499,900 shares of the semiconductor manufacturer’s stock worth $6,994,430,000 after purchasing an additional 2,323,946 shares in the last quarter. Wellington Management Group LLP grew its stake in Broadcom by 76.0% during the 1st quarter. Wellington Management Group LLP now owns 2,038,369 shares of the semiconductor manufacturer’s stock worth $483,297,000 after purchasing an additional 880,243 shares in the last quarter. BlackRock Inc. grew its stake in Broadcom by 2.9% during the 2nd quarter. BlackRock Inc. now owns 26,151,390 shares of the semiconductor manufacturer’s stock worth $8,253,640,000 after purchasing an additional 735,944 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Broadcom by 18.4% during the 1st quarter. Clearbridge Investments LLC now owns 4,184,682 shares of the semiconductor manufacturer’s stock worth $992,188,000 after purchasing an additional 651,443 shares in the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

AVGO has been the subject of several analyst reports. Goldman Sachs Group upped their price objective on Broadcom from $322.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Barclays upped their price objective on Broadcom from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. BMO Capital Markets upped their price objective on Broadcom from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. They noted that the move was a valuation call. Rosenblatt Securities reaffirmed a “buy” rating and set a $430.00 price objective (up from $370.00) on shares of Broadcom in a research report on Tuesday, September 1st. Finally, Credit Suisse Group boosted their target price on Broadcom from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Friday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus target price of $382.48.

AVGO traded up $4.28 on Thursday, hitting $368.60. 1,601,614 shares of the company traded hands, compared to its average volume of 2,713,939. The company has a 50 day moving average of $348.96 and a 200-day moving average of $297.94. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $149.10 billion, a PE ratio of 69.16, a PEG ratio of 1.56 and a beta of 0.93. Broadcom Inc has a 12-month low of $155.67 and a 12-month high of $378.96.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.24 by $0.16. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. On average, research analysts anticipate that Broadcom Inc will post 18.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were paid a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is 74.67%.

In other news, CEO Hock E. Tan sold 57,171 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $308.49, for a total transaction of $17,636,681.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raul J. Fernandez purchased 84 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average price of $358.11 per share, for a total transaction of $30,081.24. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 745,693 shares of company stock valued at $251,326,886. Company insiders own 3.00% of the company’s stock.

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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