Park National Corp OH grew its position in Broadcom Inc (NASDAQ:AVGO) by 105.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 29,681 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,209 shares during the period. Park National Corp OH’s holdings in Broadcom were worth $8,544,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Outlook Wealth Advisors LLC raised its position in shares of Broadcom by 773.5% in the 1st quarter. Outlook Wealth Advisors LLC now owns 856 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 758 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Broadcom by 177.0% in the 1st quarter. Gateway Investment Advisers LLC now owns 136,598 shares of the semiconductor manufacturer’s stock valued at $41,076,000 after buying an additional 87,288 shares during the period. Verity & Verity LLC grew its stake in shares of Broadcom by 104.8% in the 1st quarter. Verity & Verity LLC now owns 9,083 shares of the semiconductor manufacturer’s stock valued at $2,731,000 after buying an additional 4,647 shares during the period. Shine Investment Advisory Services Inc. grew its stake in shares of Broadcom by 16.4% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 398 shares of the semiconductor manufacturer’s stock valued at $120,000 after buying an additional 56 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Broadcom in the 4th quarter valued at about $2,080,000. Institutional investors own 83.92% of the company’s stock.
Shares of NASDAQ AVGO traded up $4.63 during midday trading on Tuesday, reaching $300.78. The company’s stock had a trading volume of 1,968,082 shares, compared to its average volume of 2,932,723. Broadcom Inc has a 12-month low of $202.77 and a 12-month high of $323.20. The firm has a 50 day moving average price of $279.84. The firm has a market cap of $117.89 billion, a PE ratio of 15.97, a P/E/G ratio of 1.40 and a beta of 0.94. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. Broadcom’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.88 EPS. On average, equities analysts anticipate that Broadcom Inc will post 17.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 24th were issued a $2.65 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.52%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.
Several analysts have recently commented on AVGO shares. Rosenblatt Securities restated a “buy” rating and issued a $350.00 target price on shares of Broadcom in a research note on Monday, June 10th. Raymond James restated a “hold” rating on shares of Broadcom in a research note on Friday, June 14th. Royal Bank of Canada reduced their target price on Snc-Lavalin Group from C$40.00 to C$34.00 and set an “outperform” rating for the company in a research note on Tuesday. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Eight investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $303.68.
In related news, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $264.00, for a total transaction of $5,280,000.00. The disclosure for this sale can be found here. Insiders sold a total of 65,388 shares of company stock worth $18,198,482 in the last ninety days. 3.30% of the stock is currently owned by insiders.
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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