Great Lakes Advisors LLC Boosts Position in Broadcom Inc (AVGO)
Great Lakes Advisors LLC boosted its stake in Broadcom Inc (NASDAQ:AVGO) by 7.4% in the 3rd quarter, Holdings Channel reports. The firm owned 3,247 shares of the semiconductor manufacturer’s stock after purchasing an additional 223 shares during the period. Great Lakes Advisors LLC’s holdings in Broadcom were worth $801,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of AVGO. Marcus Capital LLC acquired a new position in shares of Broadcom in the second quarter worth $364,000. Wesbanco Bank Inc. acquired a new position in shares of Broadcom in the second quarter worth $19,879,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Broadcom by 134.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock worth $4,834,000 after acquiring an additional 11,234 shares in the last quarter. KBC Group NV acquired a new position in shares of Broadcom in the second quarter worth $10,500,000. Finally, Oakwood Capital Management LLC CA acquired a new position in shares of Broadcom in the second quarter worth $3,347,000. Hedge funds and other institutional investors own 85.22% of the company’s stock.
In related news, insider Kirsten M. Spears sold 1,194 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $246.52, for a total value of $294,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $238.62, for a total transaction of $4,772,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,194 shares of company stock valued at $14,266,145. 3.30% of the stock is owned by corporate insiders.
Shares of AVGO opened at $228.56 on Friday. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $274.26. The firm has a market capitalization of $93.95 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 28.32%. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $4.59 earnings per share. Broadcom’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc will post 18.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Wednesday, December 19th will be given a $2.65 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 dividend on an annualized basis and a yield of 4.64%. Broadcom’s payout ratio is 37.17%.
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.
Recommended Story: Intrinsic Value and Stock Selection
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.