Lenox Wealth Management Inc. Has $366,000 Stake in Broadcom Inc (NASDAQ:AVGO)

Lenox Wealth Management Inc. lifted its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 75.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,316 shares of the semiconductor manufacturer’s stock after buying an additional 568 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Broadcom were worth $366,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nuveen Asset Management LLC grew its holdings in Broadcom by 2,421.3% during the second quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock valued at $981,806,000 after purchasing an additional 3,275,431 shares during the period. Point72 Asset Management L.P. lifted its stake in Broadcom by 1,808.4% in the second quarter. Point72 Asset Management L.P. now owns 777,480 shares of the semiconductor manufacturer’s stock valued at $223,805,000 after buying an additional 736,741 shares in the last quarter. Vanguard Group Inc. lifted its stake in Broadcom by 1.8% in the second quarter. Vanguard Group Inc. now owns 31,797,832 shares of the semiconductor manufacturer’s stock valued at $9,153,324,000 after buying an additional 559,961 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Broadcom by 40,641.1% in the second quarter. Thoroughbred Financial Services LLC now owns 514,967 shares of the semiconductor manufacturer’s stock valued at $51,497,000 after buying an additional 513,703 shares in the last quarter. Finally, Natixis lifted its stake in Broadcom by 840.6% in the second quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer’s stock valued at $126,871,000 after buying an additional 393,880 shares in the last quarter. Institutional investors own 84.98% of the company’s stock.

A number of research analysts have weighed in on the stock. Susquehanna Bancshares lifted their price target on shares of Broadcom from $315.00 to $345.00 and gave the company a “positive” rating in a research note on Friday, September 13th. ValuEngine raised shares of Broadcom from a “strong sell” rating to a “sell” rating in a research note on Monday, November 4th. Bank of America set a $345.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada assumed coverage on shares of Broadcom in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 price target on the stock. Finally, Jefferies Financial Group set a $350.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $313.69.

In other news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $288.71, for a total transaction of $5,774,200.00. Also, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. Insiders have sold a total of 62,000 shares of company stock valued at $17,550,860 in the last three months. Insiders own 3.30% of the company’s stock.

NASDAQ AVGO traded up $1.67 on Friday, hitting $313.41. 1,782,900 shares of the stock were exchanged, compared to its average volume of 2,653,873. The business’s fifty day moving average is $285.95 and its 200 day moving average is $285.07. The company has a market capitalization of $124.57 billion, a PE ratio of 16.64, a P/E/G ratio of 1.36 and a beta of 0.90. Broadcom Inc has a 52 week low of $217.61 and a 52 week high of $323.20. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.98 EPS. Analysts predict that Broadcom Inc will post 16.97 EPS for the current fiscal year.

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.

Featured Article: What is the S&P 500 Index?

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).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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.