Brown Advisory Inc. Has $63.95 Million Stock Position in Broadcom Inc. $AVGO

Brown Advisory Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,997 shares of the semiconductor manufacturer’s stock after buying an additional 6,389 shares during the period. Brown Advisory Inc.’s holdings in Broadcom were worth $63,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. PFS Partners LLC boosted its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC boosted its stake in Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares during the period. Walkner Condon Financial Advisors LLC grew its holdings in Broadcom by 1.0% in the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after buying an additional 38 shares during the last quarter. Finally, Carson Advisory Inc. increased its position in Broadcom by 2.0% in the 2nd quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after buying an additional 39 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares of the company’s stock, valued at approximately $7,080,435.48. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $390.24 on Friday. The firm has a market cap of $1.84 trillion, a P/E ratio of 99.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. The firm’s 50-day simple moving average is $356.79 and its 200-day simple moving average is $311.56. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $403.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Sanford C. Bernstein increased their price objective on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. KeyCorp set a $460.00 price objective on shares of Broadcom in a report on Monday, October 13th. Finally, UBS Group reaffirmed a “buy” rating and set a $472.00 price objective (up previously from $415.00) on shares of Broadcom in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $391.04.

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.