Winmill & CO. Inc. Takes Position in Broadcom Inc (NASDAQ:AVGO)

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Winmill & CO. Inc. purchased a new stake in shares of Broadcom Inc (NASDAQ:AVGO) during the third quarter, Holdings Channel.com reports. The firm purchased 13,950 shares of the semiconductor manufacturer’s stock, valued at approximately $3,851,000. Broadcom comprises 1.6% of Winmill & CO. Inc.’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Pinnacle Bank raised its holdings in shares of Broadcom by 128.2% during the second quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Liberty Wealth Management LLC raised its holdings in shares of Broadcom by 62.5% during the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 35 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Broadcom during the second quarter valued at approximately $27,000. Ellis Investment Partners LLC raised its holdings in shares of Broadcom by 55.7% during the third quarter. Ellis Investment Partners LLC now owns 123 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 44 shares during the period. Finally, Doyle Wealth Management acquired a new stake in shares of Broadcom during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 84.93% of the company’s stock.

In other news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $270.46, for a total transaction of $5,409,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Several research firms have weighed in on AVGO. Cascend Securities upped their price objective on shares of Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. SunTrust Banks set a $322.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada began coverage on shares of Broadcom in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Broadcom from $250.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Broadcom currently has a consensus rating of “Buy” and an average target price of $312.06.

Shares of AVGO traded up $8.66 during mid-day trading on Tuesday, hitting $290.32. 2,111,908 shares of the company’s stock were exchanged, compared to its average volume of 2,365,013. The firm has a fifty day moving average of $282.09 and a two-hundred day moving average of $286.92. Broadcom Inc has a twelve month low of $208.23 and a twelve month high of $323.20. The stock has a market cap of $111.43 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.40 and a beta of 0.89. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.10 by ($0.11). Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company earned $4.98 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc will post 16.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were paid a dividend of $2.65 per share. The ex-dividend date was Friday, September 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.65%. Broadcom’s dividend payout ratio (DPR) is 56.29%.

Broadcom Company Profile

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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