FinTrust Capital Advisors LLC lifted its position in shares of Broadcom Inc (NASDAQ:AVGO) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,441 shares of the semiconductor manufacturer’s stock after purchasing an additional 252 shares during the period. FinTrust Capital Advisors LLC’s holdings in Broadcom were worth $703,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bank increased its stake in shares of Broadcom by 128.2% during the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Liberty Wealth Management LLC increased its stake in shares of Broadcom by 62.5% during the 2nd 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. Daiwa SB Investments Ltd. acquired a new position in shares of Broadcom during the 1st quarter worth about $30,000. Destination Wealth Management acquired a new position in shares of Broadcom during the 1st quarter worth about $41,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Broadcom during the 1st quarter worth about $45,000. Institutional investors own 84.05% of the company’s stock.
Several analysts recently commented on the stock. Summit Redstone raised shares of Broadcom to a “buy” rating in a report on Friday, June 14th. KeyCorp lifted their target price on shares of Broadcom from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. ValuEngine downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, BMO Capital Markets reduced their target price on shares of Broadcom from $270.00 to $260.00 and set a “market perform” rating for the company in a report on Friday, June 14th. Nine analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and an average price target of $304.32.
Shares of Broadcom stock traded down $3.63 on Thursday, reaching $267.93. 93,002 shares of the stock were exchanged, compared to its average volume of 2,065,143. The firm’s 50 day simple moving average is $285.66. Broadcom Inc has a one year low of $202.77 and a one year high of $323.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.13 and a current ratio of 1.26. The stock has a market cap of $107.76 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.35 and a beta of 0.92.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm posted $4.88 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc will post 17.23 earnings per share for the current fiscal year.
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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