Linden Thomas Advisory Services LLC, a California-based financial services company, has purchased an impressive 5,641 shares in semiconductor manufacturer Broadcom Inc. (NASDAQ:AVGO), valued at $3.1 million USD during the fourth quarter of last year. This acquisition makes up 0.9% of Linden Thomas Advisory Services’ holdings portfolio and is currently their ninth largest position. Meanwhile, CFO Kirsten M. Spears disclosed selling a whopping 15,385 shares of the firm’s stock during the last quarter for a total value of over $10 million USD. Although this may cause alarm among some investors, it should be noted that insiders only own approximately 2.20% of the stock.
As for NASDAQ AVGO itself, the company opened at $886.18 USD per share on Thursday with a market capitalization of $365.71 billion USD and its PE ratio hovering around 27.75 with an impressive price-to-earnings-growth ratio of just 1.65 and beta per share of 1.08 – making it a very attractive stock for many discerning investors.
It should be noted that the semiconductor industry continues to grow rapidly as technology advances at an unprecedented rate which will always attract investor interest; therefore AVGO will maintain its current popularity well into the future and beyond thanks to its highly respected reputation within this field.
All in all, while investors may keep a close eye on insider trading activity by individuals such as CFO Kirsten M Spears, it cannot be disputed that consecutive sales across different dates indicates more than just one-time opportunistic decision-making by executives; instead pointing towards larger plans that can have important ramifications over the longer term on both customers and partners alike in today’s market conditions where technology companies must remain agile and competitive to succeed against changing trends and rivals who may emerge suddenly with new innovations or solutions that disrupt conventional business models overnight – leaving many older companies scrambling to catch up.
Key Details and Developments to Watch for in Broadcom’s Financial Landscape
The world of finance can be complex and overwhelming for many investors. With so much information to digest, it can be hard to know where to focus one’s attention. However, when it comes to semiconductor manufacturer Broadcom (NASDAQ:AVGO), there are a few key details that investors should keep in mind.
One important piece of news is the recent changes made by other hedge funds to their positions in AVGO. These include Cantor Fitzgerald Investment Advisor L.P, which lifted its position in shares of Broadcom by 94.4% in the first quarter. Meanwhile, Fairfield Bush & CO., Mirae Asset Global Investments Co. Ltd., Loomis Sayles & Co. L P, and Ergoteles LLC have also made changes to their positions in AVGO.
Equities research analysts have also issued various reports on the company, including Piper Sandler upping its price objective on Broadcom from $715.00 to $830.00 in a research report on June 2nd and Deutsche Bank Aktiengesellschaft increasing its price target on Broadcom from $675.00 to $870.00 on June 2nd as well.
Another piece of news that could impact investors is CFO Kirsten M. Spears selling 7,000 shares of the firm’s stock for a total value of $4,338,040.00 in March and selling an additional 6,000 shares for $4,786,920.00 in June.
Despite these changes and developments, Broadcom reported promising earnings results on June 1st when they announced EPS at $10.32 for the quarter – beating consensus estimates of $10.12 by $0.20 with revenue at $8.73 billion compared to analyst expectations of $8.70 billion.
Furthermore, the firm disclosed a quarterly dividend payment record date on Thursday, June 22nd worth a total payout ratio sitting at 57%.
Overall, keeping tabs on all these developments may help investors make more informed decisions and ultimately achieve better outcomes.
The post Linden Thomas Advisory Services LLC Acquires Over $3 Million in Shares of Broadcom Inc. as Semiconductor Industry Continues Rapid Growth appeared first on Best Stocks.
