Lindbrook Capital LLC Buys 39 Shares of Broadcom Inc (NASDAQ:AVGO)

Lindbrook Capital LLC lifted its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701 shares of the semiconductor manufacturer’s stock after purchasing an additional 39 shares during the quarter. Lindbrook Capital LLC’s holdings in Broadcom were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Broadcom by 1.3% in the 1st quarter. Northern Trust Corp now owns 4,919,584 shares of the semiconductor manufacturer’s stock valued at $1,479,369,000 after acquiring an additional 62,461 shares in the last quarter. Jennison Associates LLC lifted its position in Broadcom by 10.9% in the 1st quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock valued at $1,097,834,000 after acquiring an additional 359,736 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Broadcom by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,683,418 shares of the semiconductor manufacturer’s stock valued at $506,221,000 after acquiring an additional 22,458 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Broadcom by 12.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,266 shares of the semiconductor manufacturer’s stock valued at $501,062,000 after acquiring an additional 181,372 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Broadcom by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock valued at $418,142,000 after acquiring an additional 96,233 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on AVGO. Robert W. Baird dropped their price target on shares of Broadcom from $300.00 to $280.00 and set an “outperform” rating on the stock in a research report on Monday, June 17th. Cowen reaffirmed a “market perform” rating and issued a $265.00 price target (down previously from $280.00) on shares of Broadcom in a research report on Friday, June 14th. KeyCorp dropped their price target on shares of Broadcom from $350.00 to $310.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Craig Hallum reaffirmed a “buy” rating and issued a $315.00 price target (down previously from $325.00) on shares of Broadcom in a research report on Friday, June 14th. Finally, Morgan Stanley dropped their price target on shares of Broadcom from $266.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Nine research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Broadcom has an average rating of “Buy” and a consensus target price of $303.68.

In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $292.16, for a total value of $5,843,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 13,466 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total transaction of $3,754,051.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,388 shares of company stock valued at $18,198,482. 3.30% of the stock is currently owned by company insiders.

Shares of AVGO stock opened at $278.53 on Friday. The business’s 50 day moving average is $285.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.13 and a current ratio of 1.26. Broadcom Inc has a 12-month low of $202.77 and a 12-month high of $323.20. The stock has a market cap of $115.44 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.40 and a beta of 0.92.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the business posted $4.88 EPS. Broadcom’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc will post 17.43 earnings per share for the current fiscal year.

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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