Wells Fargo & Company MN lessened its holdings in Broadcom Ltd (NASDAQ:AVGO) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,128,268 shares of the semiconductor manufacturer’s stock after selling 94,824 shares during the quarter. Wells Fargo & Company MN owned approximately 0.52% of Broadcom worth $546,752,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of AVGO. AllSquare Wealth Management LLC bought a new position in Broadcom during the third quarter worth $113,000. SeaCrest Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $124,000. Carroll Financial Associates Inc. boosted its position in shares of Broadcom by 59.0% in the third quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after acquiring an additional 220 shares during the period. FNY Partners Fund LP bought a new stake in shares of Broadcom in the fourth quarter valued at about $154,000. Finally, Cable Hill Partners LLC lifted its position in Broadcom by 824.6% during the third quarter. Cable Hill Partners LLC now owns 638 shares of the semiconductor manufacturer’s stock worth $155,000 after purchasing an additional 569 shares during the period. 87.58% of the stock is currently owned by institutional investors.
Broadcom Ltd (NASDAQ:AVGO) traded up $0.54 during trading hours on Wednesday, reaching $250.16. The company had a trading volume of 744,454 shares, compared to its average volume of 3,836,137. The company has a market cap of $102,890.00, a P/E ratio of 63.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. Broadcom Ltd has a one year low of $202.61 and a one year high of $285.68. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75.
Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. Broadcom’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 EPS. research analysts anticipate that Broadcom Ltd will post 17.41 EPS for the current fiscal year.
In other Broadcom news, SVP Bryan Ingram sold 794 shares of Broadcom stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total value of $205,328.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $265.21, for a total value of $5,304,200.00. The disclosure for this sale can be found here. Insiders sold a total of 84,079 shares of company stock worth $21,719,443 over the last ninety days. Insiders own 3.60% of the company’s stock.
AVGO has been the subject of several recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $290.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Drexel Hamilton reissued a “buy” rating and set a $302.00 target price on shares of Broadcom in a research note on Monday, November 6th. Oppenheimer reissued a “buy” rating and set a $275.00 target price on shares of Broadcom in a research note on Monday, November 6th. Nomura reaffirmed a “buy” rating and issued a $300.00 price objective (up previously from $273.63) on shares of Broadcom in a research note on Monday, November 6th. Finally, Jefferies Group upped their price objective on Broadcom from $70.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $301.58.
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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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