Vinva Investment Management Ltd Acquires 3,978 Shares of Broadcom Inc. (NASDAQ:AVGO)

Vinva Investment Management Ltd boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 30.4% in the fourth quarter, HoldingsChannel reports. The firm owned 17,078 shares of the semiconductor manufacturer’s stock after buying an additional 3,978 shares during the period. Broadcom accounts for about 1.3% of Vinva Investment Management Ltd’s holdings, making the stock its 8th biggest holding. Vinva Investment Management Ltd’s holdings in Broadcom were worth $19,169,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC lifted its holdings in shares of Broadcom by 22.1% in the 4th quarter. Angeles Wealth Management LLC now owns 481 shares of the semiconductor manufacturer’s stock valued at $537,000 after buying an additional 87 shares during the period. Morningstar Investment Services LLC lifted its holdings in Broadcom by 151.0% in the fourth quarter. Morningstar Investment Services LLC now owns 2,824 shares of the semiconductor manufacturer’s stock valued at $3,170,000 after acquiring an additional 1,699 shares during the period. Baldwin Investment Management LLC boosted its position in Broadcom by 2.4% in the 4th quarter. Baldwin Investment Management LLC now owns 8,533 shares of the semiconductor manufacturer’s stock worth $9,525,000 after purchasing an additional 197 shares in the last quarter. Stephens Inc. AR boosted its position in Broadcom by 2.5% in the 4th quarter. Stephens Inc. AR now owns 48,626 shares of the semiconductor manufacturer’s stock worth $54,278,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Broadcom by 3.7% during the 4th quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.6 %

Shares of NASDAQ AVGO traded up $8.42 during trading on Friday, reaching $1,409.69. The stock had a trading volume of 1,225,961 shares, compared to its average volume of 2,779,136. The business’s 50-day moving average price is $1,336.46 and its 200-day moving average price is $1,227.53. Broadcom Inc. has a fifty-two week low of $788.78 and a fifty-two week high of $1,445.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market cap of $653.28 billion, a P/E ratio of 52.30, a PEG ratio of 2.82 and a beta of 1.17.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.83 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AVGO shares. Melius Research initiated coverage on shares of Broadcom in a report on Monday. They set a “buy” rating and a $1,850.00 price target on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $1,341.16.

View Our Latest Stock Report on AVGO

Broadcom Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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