Greystone Managed Investments Inc. boosted its holdings in Broadcom Limited (NASDAQ:AVGO) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,709 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,644 shares during the quarter. Greystone Managed Investments Inc.’s holdings in Broadcom Limited were worth $8,661,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Broadcom Limited by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after acquiring an additional 793,335 shares in the last quarter. BlackRock Inc. raised its holdings in Broadcom Limited by 3.5% during the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares during the period. State Street Corp raised its holdings in Broadcom Limited by 1.6% during the 2nd quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after buying an additional 255,044 shares during the period. Ameriprise Financial Inc. raised its holdings in Broadcom Limited by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares during the period. Finally, Jennison Associates LLC raised its holdings in Broadcom Limited by 26.7% during the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after buying an additional 1,128,052 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total transaction of $5,200,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The disclosure for this sale can be found here. Insiders sold 104,383 shares of company stock valued at $25,949,184 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
Shares of Broadcom Limited (AVGO) traded down $0.25 during midday trading on Monday, hitting $271.86. The company had a trading volume of 2,406,800 shares, compared to its average volume of 2,749,939. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $111,690.00, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 earnings per share. equities analysts anticipate that Broadcom Limited will post 13.91 EPS for the current year.
Several analysts have issued reports on the company. B. Riley boosted their price objective on Broadcom Limited from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. BMO Capital Markets assumed coverage on Broadcom Limited in a report on Monday. They set an “outperform” rating on the stock. Loop Capital restated a “buy” rating and set a $302.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. SunTrust Banks, Inc. restated a “buy” rating and set a $281.00 price objective on shares of Broadcom Limited in a report on Thursday, October 12th. Finally, Morgan Stanley restated a “buy” rating and set a $290.00 price objective on shares of Broadcom Limited in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have given a buy rating and three have given a strong buy rating to the company. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $285.19.
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Broadcom Limited Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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