Ethic Inc. Purchases 2,135 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ethic Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,218 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,135 shares during the period. Broadcom accounts for about 0.8% of Ethic Inc.’s holdings, making the stock its 12th biggest position. Ethic Inc.’s holdings in Broadcom were worth $27,034,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. WealthPlan Investment Management LLC bought a new stake in Broadcom in the third quarter worth about $435,000. Campbell & CO Investment Adviser LLC raised its position in Broadcom by 4.5% in the third quarter. Campbell & CO Investment Adviser LLC now owns 651 shares of the semiconductor manufacturer’s stock worth $541,000 after acquiring an additional 28 shares during the period. Nichols & Pratt Advisers LLP MA raised its position in Broadcom by 4.1% in the third quarter. Nichols & Pratt Advisers LLP MA now owns 385 shares of the semiconductor manufacturer’s stock worth $320,000 after acquiring an additional 15 shares during the period. Waters Parkerson & CO. LLC raised its position in Broadcom by 26.4% in the third quarter. Waters Parkerson & CO. LLC now owns 359 shares of the semiconductor manufacturer’s stock worth $298,000 after acquiring an additional 75 shares during the period. Finally, Foundry Partners LLC bought a new stake in Broadcom in the third quarter worth about $428,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 26,770 shares of company stock valued at $36,242,096 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock traded up $2.42 during midday trading on Tuesday, reaching $1,442.89. The company had a trading volume of 1,159,932 shares, compared to its average volume of 2,773,057. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 1 year low of $795.09 and a 1 year high of $1,454.00. The company has a market capitalization of $668.66 billion, a P/E ratio of 53.46, a P/E/G ratio of 2.81 and a beta of 1.17. The firm has a 50-day moving average price of $1,339.88 and a 200-day moving average price of $1,237.25.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup reissued a “buy” rating and issued a $1,560.00 price target on shares of Broadcom in a research report on Tuesday. Barclays boosted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,371.04.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.