1 North Wealth Services LLC bought a new stake in Broadcom Inc (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,671 shares of the semiconductor manufacturer’s stock, valued at approximately $679,000.
Several other hedge funds have also bought and sold shares of AVGO. Capital International Investors grew its holdings in shares of Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after purchasing an additional 22,955,578 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Broadcom by 26,295.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after purchasing an additional 11,904,869 shares in the last quarter. FMR LLC purchased a new position in shares of Broadcom in the second quarter valued at $2,768,560,000. Bank of New York Mellon Corp purchased a new position in Broadcom during the second quarter worth $1,127,357,000. Finally, Capital Research Global Investors boosted its stake in Broadcom by 16.3% during the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after buying an additional 3,608,395 shares during the period. 89.34% of the stock is owned by hedge funds and other institutional investors.
Shares of AVGO opened at $281.32 on Thursday. The firm 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 12-month low of $197.46 and a 12-month high of $282.16. The company has a quick ratio of 3.41, a current ratio of 3.90 and a debt-to-equity ratio of 0.66.
AVGO has been the subject of several recent analyst reports. Deutsche Bank dropped their price objective on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 3rd. Credit Suisse Group initiated coverage on shares of Broadcom in a research note on Friday, November 16th. They set an “outperform” rating and a $300.00 price objective for the company. ValuEngine raised shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. UBS Group dropped their price objective on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, December 7th. Finally, BidaskClub raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Nine research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $288.93.
In related news, Director Lewis C. Eggebrecht sold 2,000 shares of Broadcom stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $260.81, for a total value of $521,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas H. Krause sold 22,500 shares of Broadcom stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $257.08, for a total value of $5,784,300.00. The disclosure for this sale can be found here. Insiders sold 79,723 shares of company stock valued at $20,347,374 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
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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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