Qube Research & Technologies Ltd purchased a new stake in Broadcom Inc (NASDAQ:AVGO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,887 shares of the semiconductor manufacturer’s stock, valued at approximately $1,186,000. Broadcom makes up 0.7% of Qube Research & Technologies Ltd’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors also recently modified their holdings of AVGO. Massey Quick Simon & CO. LLC acquired a new stake in Broadcom during the 2nd quarter worth $104,000. Zions Bancorporation acquired a new stake in Broadcom during the 2nd quarter worth $109,000. MUFG Americas Holdings Corp acquired a new stake in Broadcom during the 2nd quarter worth $109,000. MUFG Securities EMEA plc acquired a new stake in Broadcom during the 2nd quarter worth $117,000. Finally, First Personal Financial Services acquired a new stake in Broadcom during the 2nd quarter worth $126,000. 84.35% of the stock is owned by institutional investors and hedge funds.

AVGO has been the subject of a number of analyst reports. Goldman Sachs Group lowered shares of Broadcom from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $300.00 to $220.00 in a report on Wednesday, July 18th. ValuEngine lowered shares of Broadcom from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Barclays initiated coverage on shares of Broadcom in a report on Tuesday, August 7th. They set an “overweight” rating and a $265.00 target price for the company. KeyCorp lowered their target price on shares of Broadcom from $325.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 25th. Finally, BidaskClub lowered shares of Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $288.56.

In related news, SVP Bryan Ingram sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 11th. The shares were sold at an average price of $245.62, for a total value of $4,912,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 80,000 shares of company stock worth $18,078,200 over the last ninety days. 3.30% of the stock is currently owned by insiders.

AVGO traded up $1.37 during trading on Friday, hitting $236.79. The company had a trading volume of 19,193 shares, compared to its average volume of 3,882,035. The stock has a market capitalization of $99.24 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.95 and a beta of 0.94. Broadcom Inc has a one year low of $197.46 and a one year high of $285.68. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, beating the consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.10 EPS. equities research analysts predict that Broadcom Inc will post 18.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, September 19th will be given a $1.75 dividend. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $7.00 annualized dividend and a yield of 2.96%. Broadcom’s dividend payout ratio is currently 48.95%.

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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