Broadcom Inc. $AVGO Shares Purchased by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 314,000.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,410 shares of the semiconductor manufacturer’s stock after purchasing an additional 31,400 shares during the period. Broadcom comprises about 3.0% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 14th largest position. Berkshire Capital Holdings Inc.’s holdings in Broadcom were worth $8,658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. Vanguard Group Inc. grew its stake in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. State Street Corp boosted its holdings in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after purchasing an additional 873,963 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 2,226,585 shares during the period. Norges Bank acquired a new position in Broadcom in the second quarter valued at $18,579,549,000. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $10,968,270,000 after buying an additional 17,985,046 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on AVGO shares. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Oppenheimer restated an “outperform” rating and issued a $435.00 target price (up from $400.00) on shares of Broadcom in a report on Friday, December 5th. Sanford C. Bernstein upped their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Finally, Benchmark lifted their price target on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $392.46.

Broadcom Price Performance

AVGO opened at $412.97 on Thursday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a 50 day moving average of $361.37 and a two-hundred day moving average of $315.84. The company has a market cap of $1.95 trillion, a P/E ratio of 105.35, a P/E/G ratio of 1.38 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 837,433 shares of company stock worth $303,900,352 in the last quarter. Insiders own 2.00% of the company’s stock.

About Broadcom

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.