Huntington National Bank lifted its holdings in Broadcom Inc (NASDAQ:AVGO) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,586 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,053 shares during the period. Huntington National Bank’s holdings in Broadcom were worth $15,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Chartwell Investment Partners LLC boosted its holdings in shares of Broadcom by 11.4% during the second quarter. Chartwell Investment Partners LLC now owns 5,821 shares of the semiconductor manufacturer’s stock worth $1,837,000 after purchasing an additional 595 shares during the period. State of Michigan Retirement System lifted its stake in Broadcom by 12.2% in the second quarter. State of Michigan Retirement System now owns 102,072 shares of the semiconductor manufacturer’s stock valued at $32,215,000 after acquiring an additional 11,094 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its stake in Broadcom by 4.7% in the second quarter. Schmidt P J Investment Management Inc. now owns 2,267 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 102 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Broadcom by 16.1% in the second quarter. Koshinski Asset Management Inc. now owns 7,983 shares of the semiconductor manufacturer’s stock valued at $2,520,000 after acquiring an additional 1,105 shares during the last quarter. Finally, Avestar Capital LLC acquired a new stake in Broadcom in the second quarter valued at approximately $292,000. 81.19% of the stock is currently owned by institutional investors.

In other news, SVP Charlie B. Kawwas sold 27,192 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $313.66, for a total value of $8,529,042.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 57,171 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $308.49, for a total value of $17,636,681.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 480,747 shares of company stock valued at $150,544,165. 3.30% of the stock is currently owned by company insiders.

NASDAQ:AVGO traded up $4.65 on Friday, hitting $316.75. 2,472,008 shares of the stock were exchanged, compared to its average volume of 1,611,354. The stock has a market capitalization of $127.39 billion, a price-to-earnings ratio of 56.66, a P/E/G ratio of 1.49 and a beta of 0.90. Broadcom Inc has a 52 week low of $155.67 and a 52 week high of $331.58. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.01 and a current ratio of 2.15. The company’s 50-day moving average price is $310.87 and its 200 day moving average price is $284.78.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 4th. The semiconductor manufacturer reported $5.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $5.14. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Broadcom had a return on equity of 32.00% and a net margin of 10.97%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.21 EPS. As a group, equities research analysts predict that Broadcom Inc will post 17.47 earnings per share for the current year.

A number of analysts have issued reports on AVGO shares. Morgan Stanley lifted their target price on shares of Broadcom from $333.00 to $358.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. SunTrust Banks lifted their price target on shares of Broadcom from $300.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Susquehanna Bancshares lifted their price target on shares of Broadcom from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Barclays lifted their price target on shares of Broadcom from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, Oppenheimer began coverage on shares of Broadcom in a research report on Tuesday, June 16th. They issued a “buy” rating and a $350.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $339.25.

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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