Broadcom Inc (NASDAQ:AVGO) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its holdings in Broadcom Inc (NASDAQ:AVGO) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,018 shares of the semiconductor manufacturer’s stock after purchasing an additional 377 shares during the quarter. EP Wealth Advisors LLC’s holdings in Broadcom were worth $16,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Liberty Wealth Management LLC increased its position in shares of Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 35 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Broadcom in the second quarter worth approximately $27,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Broadcom in the third quarter worth approximately $28,000. Marquette Asset Management LLC purchased a new stake in Broadcom in the third quarter worth approximately $28,000. Finally, Ellis Investment Partners LLC boosted its stake in Broadcom by 55.7% in the third quarter. Ellis Investment Partners LLC now owns 123 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 44 shares in the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.

AVGO has been the subject of several research reports. Jefferies Financial Group set a $350.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Friday, September 13th. Daiwa Capital Markets lowered Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. BMO Capital Markets increased their price objective on Broadcom to $310.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Cascend Securities upped their target price on Broadcom from $330.00 to $350.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Loop Capital downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $317.50.

AVGO traded up $3.20 on Wednesday, hitting $309.72. 1,443,904 shares of the company’s stock traded hands, compared to its average volume of 2,594,162. The company’s 50 day simple moving average is $303.94 and its 200-day simple moving average is $285.66. The firm has a market cap of $125.43 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.37 and a beta of 0.90. Broadcom Inc has a one year low of $217.61 and a one year high of $325.67. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.10 by ($0.11). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.98 EPS. As a group, equities analysts anticipate that Broadcom Inc will post 16.97 EPS for the current fiscal year.

In other Broadcom news, insider Mark David Brazeal sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $288.71, for a total value of $5,774,200.00. In the last quarter, insiders sold 62,000 shares of company stock valued at $18,432,860. Company insiders own 3.30% of the company’s stock.

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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