Home Wealth Advisor Broadcom Inc (AVGO) Holdings Boosted by TCI Wealth Advisors Inc.

Broadcom Inc (AVGO) Holdings Boosted by TCI Wealth Advisors Inc.

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TCI Wealth Advisors Inc. raised its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 22.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,393 shares of the semiconductor manufacturer’s stock after acquiring an additional 624 shares during the period. TCI Wealth Advisors Inc.’s holdings in Broadcom were worth $837,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. raised its stake in shares of Broadcom by 15.2% during the 3rd quarter. American Century Companies Inc. now owns 1,518,451 shares of the semiconductor manufacturer’s stock worth $374,647,000 after purchasing an additional 200,622 shares during the period. Grisanti Capital Management LLC raised its stake in shares of Broadcom by 11.1% during the 3rd quarter. Grisanti Capital Management LLC now owns 41,664 shares of the semiconductor manufacturer’s stock worth $10,280,000 after purchasing an additional 4,178 shares during the period. Cadence Capital Management LLC raised its stake in shares of Broadcom by 87.3% during the 3rd quarter. Cadence Capital Management LLC now owns 36,670 shares of the semiconductor manufacturer’s stock worth $9,048,000 after purchasing an additional 17,087 shares during the period. HL Financial Services LLC bought a new stake in shares of Broadcom during the 3rd quarter worth $3,569,000. Finally, Hollencrest Capital Management bought a new stake in shares of Broadcom during the 3rd quarter worth $331,000. Institutional investors and hedge funds own 88.09% of the company’s stock.

AVGO stock opened at $230.50 on Wednesday. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. The stock has a market cap of $91.28 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.89 and a beta of 0.99. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $285.68.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.10 EPS. Sell-side analysts expect that Broadcom Inc will post 18.09 EPS for the current fiscal year.

AVGO has been the topic of a number of recent analyst reports. Goldman Sachs Group cut Broadcom from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $300.00 to $220.00 in a research note on Wednesday, July 18th. ValuEngine cut Broadcom from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Mizuho reiterated a “buy” rating and set a $280.00 target price on shares of Broadcom in a research note on Friday, September 7th. Bank of America upgraded Broadcom from a “neutral” rating to a “buy” rating in a research note on Friday, September 7th. Finally, MKM Partners lowered their target price on Broadcom to $255.00 in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty have issued a buy rating to the stock. Broadcom has an average rating of “Buy” and an average price target of $290.77.

In other Broadcom news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,194 shares of company stock valued at $13,785,345 in the last ninety days. Insiders own 3.30% of the company’s stock.

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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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