JT Stratford LLC Boosts Stock Holdings in Broadcom Inc. $AVGO

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

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Vanguard Group Inc. raised its position in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares in the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after acquiring an additional 2,226,585 shares during the last quarter. Norges Bank purchased a new stake in Broadcom during the second quarter valued at about $18,579,549,000. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Broadcom during the first quarter worth about $6,649,117,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Mizuho set a $435.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Barclays set a $450.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Truist Financial boosted their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $383.00.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were 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 in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $381.57 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The stock has a fifty day simple moving average of $353.95 and a two-hundred day simple moving average of $309.46. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 97.34, a price-to-earnings-growth ratio of 1.32 and a beta of 1.19. 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 issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Company Profile

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.