Lenox Wealth Management Inc. grew its stake in Broadcom Inc (NASDAQ:AVGO) by 75.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,316 shares of the semiconductor manufacturer’s stock after purchasing an additional 568 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Broadcom were worth $366,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Broadcom by 17.8% during the second quarter. Janus Henderson Group PLC now owns 978,371 shares of the semiconductor manufacturer’s stock worth $281,577,000 after acquiring an additional 147,769 shares during the period. Endurance Wealth Management Inc. raised its stake in Broadcom by 8.4% during the second quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock worth $2,181,000 after acquiring an additional 585 shares during the period. Parsons Capital Management Inc. RI raised its stake in Broadcom by 13.2% during the second quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock worth $474,000 after acquiring an additional 192 shares during the period. 9258 Wealth Management LLC raised its stake in Broadcom by 5.8% during the second quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock worth $449,000 after acquiring an additional 85 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its stake in Broadcom by 63.0% during the second quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock worth $17,511,000 after acquiring an additional 23,514 shares during the period. Institutional investors and hedge funds own 84.98% of the company’s stock.

Shares of Broadcom stock traded up $1.67 on Friday, hitting $313.41. The company had a trading volume of 1,782,900 shares, compared to its average volume of 2,653,873. Broadcom Inc has a 52 week low of $217.61 and a 52 week high of $323.20. The business has a 50-day simple moving average of $285.95 and a 200-day simple moving average of $285.07. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18. The company has a market cap of $124.57 billion, a PE ratio of 16.64, a PEG ratio of 1.36 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business posted $4.98 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc will post 16.97 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities set a $370.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Co increased their price objective on shares of Broadcom from $290.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, September 13th. Mizuho restated a “buy” rating and issued a $340.00 target price (up previously from $330.00) on shares of Broadcom in a research report on Friday, September 13th. KeyCorp upped their target price on shares of Broadcom from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. set a $350.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Broadcom currently has an average rating of “Buy” and a consensus target price of $313.69.

In other Broadcom news, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.43, for a total transaction of $5,788,600.00. Insiders sold a total of 62,000 shares of company stock worth $17,550,860 over the last quarter. 3.30% of the stock is currently owned by company insiders.

About Broadcom

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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