ETRADE Capital Management LLC Purchases 1,005 Shares of Broadcom Inc (NASDAQ:AVGO)

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ETRADE Capital Management LLC grew its stake in Broadcom Inc (NASDAQ:AVGO) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,207 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,005 shares during the period. ETRADE Capital Management LLC’s holdings in Broadcom were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CRA Financial Services LLC boosted its holdings in shares of Broadcom by 2.0% in the 2nd quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock worth $488,000 after acquiring an additional 33 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in Broadcom by 62.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 35 shares in the last quarter. Tarbox Family Office Inc. increased its holdings in Broadcom by 20.2% during the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock worth $62,000 after purchasing an additional 36 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in Broadcom by 14.7% during the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock worth $83,000 after purchasing an additional 37 shares in the last quarter. Finally, First Business Financial Services Inc. increased its holdings in Broadcom by 1.7% during the 2nd quarter. First Business Financial Services Inc. now owns 2,336 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 84.63% of the company’s stock.

In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $264.00, for a total transaction of $5,280,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bryan Ingram sold 11,922 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total transaction of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold 85,388 shares of company stock valued at $23,607,682 over the last 90 days. Company insiders own 3.30% of the company’s stock.

A number of research firms have issued reports on AVGO. Daiwa Capital Markets cut Broadcom from a “buy” rating to a “neutral” rating in a report on Thursday, August 15th. Craig Hallum reiterated a “buy” rating and set a $315.00 target price (down previously from $325.00) on shares of Broadcom in a report on Friday, June 14th. Robert W. Baird lowered their target price on Broadcom from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Monday, June 17th. Loop Capital set a $310.00 target price on Broadcom and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup lowered their target price on Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. Nine analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and a consensus target price of $304.16.

Shares of Broadcom stock traded up $2.21 during trading hours on Thursday, reaching $300.22. 591,326 shares of the company’s stock were exchanged, compared to its average volume of 2,738,333. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20. The stock has a market cap of $116.48 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.43 and a beta of 0.88. The company has a 50 day moving average of $283.11 and a two-hundred day moving average of $286.75. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the business posted $4.88 EPS. Broadcom’s revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that Broadcom Inc will post 17.23 earnings per share for the current fiscal 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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