Country Club Trust Company n.a. Purchases New Holdings in Broadcom Inc (AVGO)
Country Club Trust Company n.a. purchased a new stake in Broadcom Inc (NASDAQ:AVGO) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 9,089 shares of the semiconductor manufacturer’s stock, valued at approximately $2,733,000.
Other institutional investors have also recently bought and sold shares of the company. Standard Life Aberdeen plc bought a new position in Broadcom during the third quarter worth about $508,015,000. LPL Financial LLC boosted its holdings in Broadcom by 7.2% during the third quarter. LPL Financial LLC now owns 117,321 shares of the semiconductor manufacturer’s stock worth $28,947,000 after buying an additional 7,904 shares during the last quarter. Paloma Partners Management Co boosted its holdings in Broadcom by 203.1% during the third quarter. Paloma Partners Management Co now owns 6,919 shares of the semiconductor manufacturer’s stock worth $1,707,000 after buying an additional 4,636 shares during the last quarter. Lucia Wealth Services LLC boosted its holdings in Broadcom by 78.9% during the third quarter. Lucia Wealth Services LLC now owns 3,273 shares of the semiconductor manufacturer’s stock worth $808,000 after buying an additional 1,443 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Broadcom during the third quarter worth about $912,000. Institutional investors and hedge funds own 86.93% of the company’s stock.
A number of brokerages have issued reports on AVGO. KeyCorp restated an “overweight” rating and set a $335.00 target price (up previously from $310.00) on shares of Broadcom in a report on Tuesday, April 2nd. Zacks Investment Research cut Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. SunTrust Banks raised their target price on Broadcom to $339.00 and gave the stock a “buy” rating in a report on Friday, March 15th. They noted that the move was a valuation call. Jefferies Financial Group raised their target price on Broadcom from $314.00 to $341.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Citigroup initiated coverage on Broadcom in a report on Friday, March 15th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty-two have issued a buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average price target of $301.16.
Shares of Broadcom stock opened at $307.51 on Thursday. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $307.77. The company has a market capitalization of $120.12 billion, a P/E ratio of 16.28, a PEG ratio of 1.42 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The business had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the firm earned $5.12 EPS. Broadcom’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that Broadcom Inc will post 17.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 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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