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.
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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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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