Broadcom Inc. $AVGO Shares Bought by Goldstream Capital Management Ltd

Goldstream Capital Management Ltd grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 22.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 64,401 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,845 shares during the quarter. Broadcom makes up 5.9% of Goldstream Capital Management Ltd’s holdings, making the stock its 6th largest holding. Goldstream Capital Management Ltd’s holdings in Broadcom were worth $17,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. PFS Partners LLC increased its holdings in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 38 shares during the last quarter. Costello Asset Management INC increased its holdings in Broadcom by 1.5% during the second quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock worth $697,000 after buying an additional 38 shares during the last quarter. Walkner Condon Financial Advisors LLC raised its position in Broadcom by 1.0% during the second quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock worth $1,087,000 after acquiring an additional 38 shares in the last quarter. Finally, Carson Advisory Inc. lifted its stake in Broadcom by 2.0% in the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock valued at $558,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $401.10 on Tuesday. The stock has a 50 day simple moving average of $358.25 and a 200 day simple moving average of $313.90. The stock has a market cap of $1.89 trillion, a P/E ratio of 102.32, a PEG ratio of 1.33 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $407.29. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the completion of the transaction, the director owned 21,382 shares in the company, valued at $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 665,271 shares of company stock valued at $225,483,192. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Rosenblatt Securities boosted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. KeyCorp set a $460.00 price target on Broadcom in a report on Monday, October 13th. Evercore ISI upped their price objective on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Barclays set a $450.00 price objective on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Citigroup reissued a “buy” rating and set a $415.00 target price (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $391.04.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.