JT Stratford LLC Acquires 6,322 Shares of Broadcom Inc. $AVGO

JT Stratford LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 92.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,170 shares of the semiconductor manufacturer’s stock after buying an additional 6,322 shares during the quarter. JT Stratford LLC’s holdings in Broadcom were worth $3,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. grew its stake in shares of Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after acquiring an additional 39,466 shares during the last quarter. Capital Counsel LLC NY bought a new position in shares of Broadcom during the 2nd quarter valued at $221,000. Waterloo Capital L.P. grew its holdings in shares of Broadcom by 7.0% in the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after acquiring an additional 3,180 shares during the period. PARUS FINANCE UK Ltd increased its position in Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after acquiring an additional 64,038 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after purchasing an additional 13,978 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $381.57 on Wednesday. The company has a market cap of $1.80 trillion, a PE ratio of 97.34, a P/E/G ratio of 1.32 and a beta of 1.19. The stock has a 50 day simple moving average of $353.95 and a 200-day simple moving average of $309.46. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00. Following the transaction, the director owned 21,382 shares of the company’s stock, valued at approximately $7,080,435.48. This represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $400.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. UBS Group restated a “buy” rating and issued a $472.00 price target (up from $415.00) on shares of Broadcom in a report on Monday. Bank of America lifted their target price on Broadcom from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Monday. Rosenblatt Securities boosted their price target on Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $383.00.

About Broadcom

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.