Atlantic Union Bankshares Corp grew its position in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,198 shares of the semiconductor manufacturer's stock after acquiring an additional 43 shares during the period. Atlantic Union Bankshares Corp's holdings in Broadcom were worth $7,869,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stewart & Patten Co. LLC raised its position in shares of Broadcom by 7.2% in the 2nd quarter. Stewart & Patten Co. LLC now owns 16,255 shares of the semiconductor manufacturer's stock valued at $7,897,000 after buying an additional 1,094 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of Broadcom by 78.4% during the 2nd quarter. Hollencrest Capital Management now owns 2,300 shares of the semiconductor manufacturer's stock valued at $1,117,000 after acquiring an additional 1,011 shares during the period. UMB Bank n.a. lifted its position in shares of Broadcom by 1.5% during the 2nd quarter. UMB Bank n.a. now owns 60,918 shares of the semiconductor manufacturer's stock valued at $29,594,000 after acquiring an additional 874 shares during the period. Cadence Bank NA lifted its position in shares of Broadcom by 20.7% during the 2nd quarter. Cadence Bank NA now owns 897 shares of the semiconductor manufacturer's stock valued at $436,000 after acquiring an additional 154 shares during the period. Finally, Endurance Wealth Management Inc. raised its holdings in Broadcom by 2.1% during the second quarter. Endurance Wealth Management Inc. now owns 8,856 shares of the semiconductor manufacturer's stock worth $4,302,000 after buying an additional 185 shares during the last quarter. Institutional investors own 79.60% of the company's stock.
Get Broadcom alerts:Broadcom Stock Up 0.2 %
Broadcom stock traded up $1.10 on Friday, hitting $451.23. 42,240 shares of the stock traded hands, compared to its average volume of 2,531,646. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 1.88. The firm has a market cap of $182.75 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 0.90 and a beta of 1.09. The business's fifty day simple moving average is $517.27 and its 200 day simple moving average is $543.82. Broadcom Inc. has a 1 year low of $444.88 and a 1 year high of $677.76.
Broadcom (NASDAQ:AVGO – Get Rating) last announced its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.07 EPS for the quarter, beating the consensus estimate of $8.84 by $0.23. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. Broadcom had a return on equity of 63.42% and a net margin of 31.96%. The company's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted $6.32 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 34.41 earnings per share for the current year.Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd will be given a $4.10 dividend. This represents a $16.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Wednesday, September 21st. Broadcom's dividend payout ratio is presently 70.93%.
Analyst Ratings Changes
AVGO has been the topic of several research reports. KeyCorp lowered their price objective on shares of Broadcom from $780.00 to $700.00 and set an "overweight" rating on the stock in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Broadcom from $700.00 to $635.00 in a research note on Wednesday, July 20th. StockNews.com lowered shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Susquehanna reiterated a "buy" rating and issued a $680.00 target price on shares of Broadcom in a research note on Friday, September 2nd. Finally, Bank of America reduced their target price on shares of Broadcom from $780.00 to $625.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $675.33.
Broadcom Profile
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on Broadcom (AVGO)
- This Is A Memorable Time To Buy Into Micron Technology
- How Does Keurig Dr Pepper Compare To Larger Rivals Coke & Pepsi?
- Let Paychex Stock Work Hard For You
- Declining Profits Challenge the CarMax Value Proposition
- Thor Industries Hammers Out A Bottom
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Get Rating).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.