Duncker Streett & Co. Inc. cut its position in Broadcom Inc (NASDAQ:AVGO) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,055 shares of the semiconductor manufacturer’s stock after selling 830 shares during the period. Duncker Streett & Co. Inc.’s holdings in Broadcom were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in AVGO. FMR LLC bought a new stake in Broadcom during the second quarter worth about $2,768,560,000. United Services Automobile Association bought a new stake in Broadcom during the second quarter worth about $174,956,000. Putnam Investments LLC bought a new stake in Broadcom during the second quarter worth about $1,359,000. Global X Management Co LLC bought a new stake in Broadcom during the second quarter worth about $691,000. Finally, Schroder Investment Management Group bought a new stake in Broadcom during the second quarter worth about $5,876,000. 89.34% of the stock is currently owned by institutional investors.
In other Broadcom news, CFO Thomas H. Krause sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $257.08, for a total transaction of $5,784,300.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lewis C. Eggebrecht sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $260.81, for a total value of $521,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,723 shares of company stock worth $20,347,374 in the last quarter. Company insiders own 3.30% of the company’s stock.
NASDAQ:AVGO traded up $0.43 during mid-day trading on Friday, reaching $281.93. 1,720,019 shares of the company’s stock traded hands, compared to its average volume of 3,080,450. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $284.09. The company has a market cap of $114.65 billion, a PE ratio of 14.97, a P/E/G ratio of 1.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the business earned $4.59 EPS. Broadcom’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that Broadcom Inc will post 18.59 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Broadcom in a research note on Thursday. BidaskClub raised Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 24th. ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Deutsche Bank decreased their price objective on Broadcom from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. Finally, B. Riley lifted their price objective on Broadcom from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus price target of $289.42.
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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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