Gilbert & Cook Inc. Acquires 94 Shares of Broadcom Inc (NASDAQ:AVGO)

Gilbert & Cook Inc. lifted its holdings in Broadcom Inc (NASDAQ:AVGO) by 10.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 967 shares of the semiconductor manufacturer’s stock after buying an additional 94 shares during the quarter. Gilbert & Cook Inc.’s holdings in Broadcom were worth $267,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVGO. Vanguard Group Inc. boosted its stake in shares of Broadcom by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 31,797,832 shares of the semiconductor manufacturer’s stock worth $9,153,324,000 after buying an additional 559,961 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Broadcom by 0.4% during the 2nd quarter. BlackRock Inc. now owns 25,780,514 shares of the semiconductor manufacturer’s stock worth $7,421,177,000 after acquiring an additional 105,186 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Broadcom by 1.1% during the 2nd quarter. Northern Trust Corp now owns 4,971,618 shares of the semiconductor manufacturer’s stock worth $1,431,130,000 after acquiring an additional 52,034 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Broadcom by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,120,427 shares of the semiconductor manufacturer’s stock worth $1,186,106,000 after acquiring an additional 88,958 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Broadcom by 2,421.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock worth $981,806,000 after acquiring an additional 3,275,431 shares in the last quarter. 84.98% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Mark David Brazeal sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was 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 company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $270.46, for a total value of $5,409,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,000 shares of company stock worth $17,550,860. Company insiders own 3.30% of the company’s stock.

AVGO stock traded up $1.67 during mid-day trading on Friday, reaching $313.41. The company’s stock had a trading volume of 1,782,900 shares, compared to its average volume of 2,653,873. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58. The stock has a market cap of $124.57 billion, a PE ratio of 16.64, a P/E/G ratio of 1.36 and a beta of 0.90. The company’s 50 day moving average is $285.95 and its two-hundred day moving average is $285.07. Broadcom Inc has a fifty-two week low of $217.61 and a fifty-two week high of $323.20.

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Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share 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 business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the company posted $4.98 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. On average, analysts forecast that Broadcom Inc will post 16.97 earnings per share for the current fiscal year.

AVGO has been the subject of several research analyst reports. Sanford C. Bernstein set a $340.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. set a $350.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada initiated coverage on shares of Broadcom in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $320.00 price target for the company. BMO Capital Markets upped their price target on shares of Broadcom to $310.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Mizuho restated a “buy” rating and set a $340.00 price target (up previously from $330.00) on shares of Broadcom in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $313.69.

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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