Jones Financial Companies Lllp acquired a new stake in Broadcom Inc (NASDAQ:AVGO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,549 shares of the semiconductor manufacturer’s stock, valued at approximately $1,590,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Marcus Capital LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $364,000. BP PLC purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $12,135,000. Sigma Investment Counselors Inc. purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $286,000. FTB Advisors Inc. boosted its stake in shares of Broadcom by 1,102.7% during the 2nd quarter. FTB Advisors Inc. now owns 3,572 shares of the semiconductor manufacturer’s stock worth $866,000 after acquiring an additional 3,275 shares in the last quarter. Finally, BTIM Corp. purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $449,000. 83.09% of the stock is currently owned by institutional investors.

Shares of Broadcom stock opened at $209.27 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.87 and a quick ratio of 5.29. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $285.68. The company has a market cap of $91.62 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.96 and a beta of 0.93.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 7th. The semiconductor manufacturer reported $4.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.05 by $0.83. Broadcom had a return on equity of 28.81% and a net margin of 56.32%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the firm posted $3.69 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. analysts forecast that Broadcom Inc will post 17.48 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. DA Davidson decreased their price target on Broadcom to $300.00 and set a “positive” rating on the stock in a research note on Thursday, May 10th. Longbow Research lowered Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, July 12th. JPMorgan Chase & Co. decreased their price target on Broadcom from $340.00 to $337.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 1st. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. Finally, B. Riley lowered Broadcom from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $308.00 to $245.00 in a research note on Thursday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus price target of $290.77.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $269.69, for a total value of $5,393,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bryan Ingram sold 10,604 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $270.02, for a total value of $2,863,292.08. The disclosure for this sale can be found here. Insiders have sold a total of 140,604 shares of company stock valued at $34,075,792 over the last 90 days. Insiders own 3.30% of the company’s stock.

Broadcom 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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