Shaker Investments LLC OH trimmed its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 27.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,540 shares of the semiconductor manufacturer’s stock after selling 3,922 shares during the quarter. Broadcom comprises approximately 2.2% of Shaker Investments LLC OH’s investment portfolio, making the stock its 13th biggest position. Shaker Investments LLC OH’s holdings in Broadcom were worth $3,169,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in AVGO. Oregon Public Employees Retirement Fund boosted its position in Broadcom by 26,295.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 11,904,869 shares during the period. Norges Bank bought a new position in Broadcom during the fourth quarter worth $1,055,582,000. Vanguard Group Inc boosted its position in Broadcom by 6.6% during the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Thornburg Investment Management Inc. boosted its position in Broadcom by 85.2% during the fourth quarter. Thornburg Investment Management Inc. now owns 825,050 shares of the semiconductor manufacturer’s stock worth $209,794,000 after purchasing an additional 379,637 shares during the period. Finally, FMR LLC boosted its position in Broadcom by 3.8% during the fourth quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after purchasing an additional 374,911 shares during the period. 86.96% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on AVGO. ValuEngine cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Monday. Mizuho lifted their price objective on shares of Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank lifted their price objective on shares of Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Broadcom in a research report on Friday, March 15th. Finally, UBS Group lifted their price objective on shares of Broadcom from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus price target of $304.88.
Shares of Broadcom stock opened at $298.66 on Thursday. The stock has a market capitalization of $118.22 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $323.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.32 by $1.23. The company had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. Broadcom’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.12 earnings per share. As a group, analysts anticipate that Broadcom Inc will post 17.65 earnings per share for the current year.
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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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