NEXT Financial Group Inc purchased a new position in shares of Broadcom Inc (NASDAQ:AVGO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 979 shares of the semiconductor manufacturer’s stock, valued at approximately $242,000.
Several other large investors also recently bought and sold shares of AVGO. Massey Quick Simon & CO. LLC acquired a new stake in Broadcom in the 2nd quarter valued at about $104,000. MUFG Americas Holdings Corp acquired a new stake in Broadcom in the 2nd quarter valued at about $109,000. Zions Bancorporation acquired a new stake in Broadcom in the 2nd quarter valued at about $109,000. MUFG Securities EMEA plc acquired a new stake in Broadcom in the 2nd quarter valued at about $117,000. Finally, First Personal Financial Services acquired a new stake in Broadcom in the 2nd quarter valued at about $126,000. 88.01% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Benchmark assumed coverage on shares of Broadcom in a research note on Friday, June 15th. They issued a “buy” rating and a $300.00 price objective on the stock. Loop Capital assumed coverage on shares of Broadcom in a research note on Thursday, June 21st. They issued a “buy” rating and a $306.00 price objective on the stock. Mizuho reissued a “buy” rating on shares of Broadcom in a research note on Friday, October 5th. Finally, Piper Jaffray Companies set a $293.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $290.77.
NASDAQ:AVGO opened at $231.83 on Thursday. The stock has a market capitalization of $102.01 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $285.68.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.10 EPS. Analysts forecast that Broadcom Inc will post 18.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, September 19th were issued a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 18th. This represents a $7.00 annualized dividend and a dividend yield of 3.02%. Broadcom’s payout ratio is currently 48.95%.
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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