Ziegler Capital Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,104 shares of the semiconductor manufacturer's stock after buying an additional 4,911 shares during the quarter. Broadcom makes up approximately 1.1% of Ziegler Capital Management LLC's investment portfolio, making the stock its 11th largest position. Ziegler Capital Management LLC's holdings in Broadcom were worth $26,284,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. City State Bank bought a new position in Broadcom during the 4th quarter worth approximately $234,000. Hanson & Doremus Investment Management bought a new position in Broadcom during the first quarter worth $26,000. Semmax Financial Advisors Inc. lifted its holdings in Broadcom by 300.0% in the fourth quarter. Semmax Financial Advisors Inc. now owns 44 shares of the semiconductor manufacturer's stock valued at $29,000 after buying an additional 33 shares during the period. Ahrens Investment Partners LLC boosted its position in Broadcom by 125.0% during the first quarter. Ahrens Investment Partners LLC now owns 45 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 25 shares during the last quarter. Finally, Hoey Investments Inc. acquired a new stake in Broadcom during the 1st quarter worth about $30,000. 79.60% of the stock is currently owned by institutional investors and hedge funds.
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NASDAQ:AVGO opened at $444.01 on Friday. The company has a market capitalization of $179.82 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.87 and a beta of 1.09. The business has a fifty day simple moving average of $515.90 and a two-hundred day simple moving average of $542.79. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.32 and a quick ratio of 2.05. Broadcom Inc. has a 1 year low of $443.64 and a 1 year high of $677.76.
Broadcom (NASDAQ:AVGO – Get Rating) last released its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.07 EPS for the quarter, topping the consensus estimate of $8.84 by $0.23. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. Broadcom's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the firm earned $6.32 EPS. On average, analysts expect that Broadcom Inc. will post 34.41 earnings per share for the current year.Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were paid a $4.10 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $16.40 annualized dividend and a yield of 3.69%. Broadcom's dividend payout ratio is currently 70.93%.
Analysts Set New Price Targets
AVGO has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Broadcom from $675.00 to $650.00 and set an "outperform" rating on the stock in a research note on Friday, September 2nd. Robert W. Baird reissued an "outperform" rating and issued a $700.00 price target on shares of Broadcom in a research note on Tuesday, September 6th. Susquehanna reaffirmed a "buy" rating and set a $680.00 price objective on shares of Broadcom in a research report on Friday, September 2nd. StockNews.com downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Broadcom from $700.00 to $635.00 in a report on Wednesday, July 20th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $675.33.
About Broadcom
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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.
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