Hayden Royal LLC Acquires 205 Shares of Broadcom Inc (NASDAQ:AVGO)

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Hayden Royal LLC increased its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 26.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 977 shares of the semiconductor manufacturer’s stock after purchasing an additional 205 shares during the quarter. Hayden Royal LLC’s holdings in Broadcom were worth $270,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp boosted its position in Broadcom by 1.3% during the 1st quarter. Northern Trust Corp now owns 4,919,584 shares of the semiconductor manufacturer’s stock worth $1,479,369,000 after acquiring an additional 62,461 shares during the last quarter. Jennison Associates LLC boosted its position in Broadcom by 10.9% during the 1st quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock worth $1,097,834,000 after acquiring an additional 359,736 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Broadcom by 1.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,683,418 shares of the semiconductor manufacturer’s stock worth $506,221,000 after acquiring an additional 22,458 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Broadcom by 12.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,266 shares of the semiconductor manufacturer’s stock worth $501,062,000 after acquiring an additional 181,372 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Broadcom by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock worth $418,142,000 after acquiring an additional 96,233 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.

Shares of AVGO stock opened at $283.70 on Wednesday. The company’s 50-day moving average price is $285.77. Broadcom Inc has a 12 month low of $202.77 and a 12 month high of $323.20. The firm has a market capitalization of $112.93 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $4.88 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc will post 17.43 EPS for the current year.

Several equities research analysts have recently commented on AVGO shares. BMO Capital Markets cut their price objective on Broadcom from $270.00 to $260.00 and set a “market perform” rating for the company in a report on Friday, June 14th. Barclays cut their price objective on Broadcom from $360.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, June 14th. KeyCorp increased their price objective on Broadcom from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Broadcom from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, DA Davidson cut their price target on Broadcom to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. Nine investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Broadcom currently has a consensus rating of “Buy” and a consensus price target of $304.32.

In related news, SVP Bryan Ingram sold 13,466 shares of Broadcom stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total value of $3,754,051.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $292.16, for a total value of $5,843,200.00. 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. Insiders own 3.30% 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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