Broadcom Inc (AVGO) Stake Boosted by Trustcore Financial Services LLC

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Trustcore Financial Services LLC lifted its position in Broadcom Inc (NASDAQ:AVGO) by 390.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446 shares of the semiconductor manufacturer’s stock after acquiring an additional 355 shares during the period. Trustcore Financial Services LLC’s holdings in Broadcom were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its position in Broadcom by 2.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock valued at $346,000 after purchasing an additional 41 shares during the last quarter. Capital City Trust Co. FL boosted its stake in shares of Broadcom by 1.0% in the 4th quarter. Capital City Trust Co. FL now owns 4,579 shares of the semiconductor manufacturer’s stock worth $1,164,000 after buying an additional 45 shares during the last quarter. Navellier & Associates Inc boosted its stake in shares of Broadcom by 2.0% in the 4th quarter. Navellier & Associates Inc now owns 2,283 shares of the semiconductor manufacturer’s stock worth $581,000 after buying an additional 45 shares during the last quarter. Bank OZK boosted its stake in shares of Broadcom by 1.1% in the 4th quarter. Bank OZK now owns 4,170 shares of the semiconductor manufacturer’s stock worth $1,060,000 after buying an additional 45 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. boosted its stake in shares of Broadcom by 1.5% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 3,266 shares of the semiconductor manufacturer’s stock worth $830,000 after buying an additional 47 shares during the last quarter. 89.34% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom stock traded down $0.46 during trading hours on Monday, hitting $273.60. 17,143 shares of the company traded hands, compared to its average volume of 2,745,588. The stock has a market cap of $111.73 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.24 and a beta of 0.72. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $280.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping the consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the company posted $4.59 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts expect that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. BidaskClub downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 4th. began coverage on Broadcom in a report on Thursday, November 8th. They issued a “buy” rating and a $310.00 target price on the stock. BMO Capital Markets lifted their target price on Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday, December 7th. JPMorgan Chase & Co. began coverage on Broadcom in a report on Thursday, November 8th. They issued an “overweight” rating and a $325.00 target price on the stock. Finally, Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Nine research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Broadcom presently has a consensus rating of “Buy” and an average target price of $288.93.

In related news, SVP Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $259.19, for a total transaction of $2,591,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,723 shares of company stock valued at $24,926,174. Corporate insiders own 3.30% of the company’s stock.

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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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