Tower Research Capital LLC TRC boosted its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 558.2% in the 3rd quarter, Holdings Channel reports. The fund owned 7,372 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,252 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Broadcom were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CRA Financial Services LLC grew its stake in Broadcom by 2.0% during the 2nd quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after acquiring an additional 33 shares in the last quarter. Liberty Wealth Management LLC grew its stake in Broadcom by 62.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 35 shares in the last quarter. Tarbox Family Office Inc. grew its stake in shares of Broadcom by 20.2% in the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after buying an additional 36 shares during the period. Enterprise Financial Services Corp grew its stake in shares of Broadcom by 14.7% in the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after buying an additional 37 shares during the period. Finally, Cresset Asset Management LLC grew its stake in shares of Broadcom by 2.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after buying an additional 37 shares during the period. 85.02% of the stock is owned by institutional investors.

Several analysts have recently weighed in on AVGO shares. Oppenheimer set a $315.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. ValuEngine raised shares of Broadcom from a “strong sell” rating to a “sell” rating in a research note on Monday, November 4th. Sanford C. Bernstein set a $340.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Rosenblatt Securities set a $370.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, BMO Capital Markets increased their price target on shares of Broadcom to $310.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $314.72.

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $288.71, for a total transaction of $5,774,200.00. Also, insider Mark David Brazeal sold 2,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. Insiders have sold a total of 62,000 shares of company stock valued at $17,550,860 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:AVGO traded up $2.78 during mid-day trading on Tuesday, reaching $315.53. 1,687,500 shares of the company were exchanged, compared to its average volume of 2,641,522. 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 firm has a market cap of $124.32 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 1.36 and a beta of 0.90. The firm’s 50-day simple moving average is $287.13 and its 200 day simple moving average is $285.04. Broadcom Inc has a 1 year low of $217.61 and a 1 year high of $323.20.

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

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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