Mirae Asset Global Investments Co. Ltd. Grows Position in Broadcom Inc (AVGO)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Broadcom Inc (NASDAQ:AVGO) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,845 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,789 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Broadcom were worth $28,948,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Broadcom by 160.7% during the third quarter. CWM LLC now owns 644 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 397 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its position in shares of Broadcom by 24.2% during the third quarter. NN Investment Partners Holdings N.V. now owns 4,243 shares of the semiconductor manufacturer’s stock valued at $1,047,000 after buying an additional 828 shares during the last quarter. GWM Advisors LLC lifted its position in shares of Broadcom by 97.8% during the third quarter. GWM Advisors LLC now owns 4,298 shares of the semiconductor manufacturer’s stock valued at $1,061,000 after buying an additional 2,125 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Broadcom by 2.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 45,274 shares of the semiconductor manufacturer’s stock valued at $11,170,000 after buying an additional 1,251 shares during the last quarter. Finally, Dowling & Yahnke LLC lifted its position in shares of Broadcom by 21.1% during the third quarter. Dowling & Yahnke LLC now owns 2,606 shares of the semiconductor manufacturer’s stock valued at $643,000 after buying an additional 454 shares during the last quarter. 85.37% of the stock is owned by institutional investors.

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In other news, Director Donald Macleod sold 5,223 shares of the stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $233.65, for a total transaction of $1,220,353.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas H. Krause sold 22,500 shares of the stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $257.08, for a total value of $5,784,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,723 shares of company stock worth $20,347,374 in the last quarter. Insiders own 3.30% of the company’s stock.

Several analysts have commented on the stock. Cowen lowered shares of Broadcom from an “outperform” rating to a “market perform” rating and set a $280.00 price target for the company. in a research report on Friday, February 22nd. B. Riley upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and upped their price objective for the company from $250.00 to $300.00 in a report on Monday, December 3rd. Charter Equity upgraded shares of Broadcom from a “market perform” rating to a “buy” rating in a report on Friday, December 7th. Craig Hallum reiterated a “buy” rating and issued a $305.00 price target (up previously from $300.00) on shares of Broadcom in a report on Friday, December 7th. Finally, BidaskClub downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 5th. Ten research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $289.42.

Shares of NASDAQ:AVGO opened at $275.36 on Friday. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $286.63. The company has a market cap of $109.07 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90.

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

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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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