Whale Rock Capital Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,176.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,039,604 shares of the semiconductor manufacturer's stock after acquiring an additional 1,879,858 shares during the period. Broadcom comprises approximately 4.9% of Whale Rock Capital Management LLC's portfolio, making the stock its 8th largest position. Whale Rock Capital Management LLC's holdings in Broadcom were worth $351,832,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. True Link Financial Advisors LLC acquired a new position in Broadcom during the 2nd quarter worth approximately $250,000. Optimum Investment Advisors grew its stake in shares of Broadcom by 0.6% during the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after purchasing an additional 8 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Broadcom by 11.0% in the second quarter. Hexagon Capital Partners LLC now owns 171 shares of the semiconductor manufacturer's stock valued at $273,000 after buying an additional 17 shares during the last quarter. Atlas Private Wealth Advisors raised its stake in Broadcom by 147.6% in the second quarter. Atlas Private Wealth Advisors now owns 473 shares of the semiconductor manufacturer's stock valued at $762,000 after buying an additional 282 shares in the last quarter. Finally, Francis Financial Inc. purchased a new stake in Broadcom during the 2nd quarter worth about $315,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
In other news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock valued at $53,540,590 in the last ninety days. 2.00% of the stock is currently owned by company insiders.
AVGO has been the topic of a number of recent analyst reports. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Truist Financial boosted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.96.
Check Out Our Latest Report on Broadcom
NASDAQ AVGO opened at $170.47 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The business's 50 day moving average is $172.87 and its two-hundred day moving average is $162.51. The stock has a market capitalization of $796.19 billion, a price-to-earnings ratio of 148.23, a PEG ratio of 1.98 and a beta of 1.13. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom's revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Research analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.