1 North Wealth Services LLC Invests $679,000 in Broadcom Inc (AVGO) Stock

1 North Wealth Services LLC acquired a new position in Broadcom Inc (NASDAQ:AVGO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,671 shares of the semiconductor manufacturer’s stock, valued at approximately $679,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Ruggie Capital Group bought a new position in shares of Broadcom in the 4th quarter worth about $25,000. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom in the 4th quarter worth about $25,000. Advisors Preferred LLC bought a new position in shares of Broadcom in the 4th quarter worth about $32,000. Essex Savings Bank bought a new position in shares of Broadcom in the 4th quarter worth about $48,000. Finally, Cohen & Steers Inc. bought a new position in shares of Broadcom in the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 89.34% of the company’s stock.

Shares of NASDAQ AVGO opened at $281.32 on Thursday. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. The stock has a market cap of $113.79 billion, a PE ratio of 14.94, a P/E/G ratio of 1.24 and a beta of 0.72. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $282.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.59 EPS. On average, equities research analysts forecast that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.

AVGO has been the subject of several research reports. Zacks Investment Research reiterated a “hold” rating on shares of Broadcom in a research note on Monday, November 12th. JPMorgan Chase & Co. initiated coverage on shares of Broadcom in a research note on Thursday, November 8th. They issued an “overweight” rating and a $325.00 price target for the company. ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Credit Suisse Group reiterated a “buy” rating and issued a $300.00 price target on shares of Broadcom in a research note on Wednesday, December 5th. Finally, BMO Capital Markets increased their price target on shares of Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a research note on Friday, December 7th. Nine research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $288.93.

In other news, SVP Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $259.19, for a total transaction of $2,591,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas H. Krause sold 22,500 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $257.08, for a total transaction of $5,784,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,723 shares of company stock worth $20,347,374. Insiders own 3.30% of the company’s stock.

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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.

Further Reading: 52-Week High/Low Prices For Stock Selection

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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