Huntington National Bank bought a new stake in Broadcom Limited (NASDAQ:AVGO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 69,499 shares of the semiconductor manufacturer’s stock, valued at approximately $16,856,000.
Several other institutional investors also recently bought and sold shares of AVGO. Waldron LP purchased a new position in Broadcom Limited in the first quarter valued at $302,000. Sentry Investment Management LLC increased its holdings in Broadcom Limited by 0.8% in the first quarter. Sentry Investment Management LLC now owns 31,386 shares of the semiconductor manufacturer’s stock valued at $6,872,000 after buying an additional 236 shares during the last quarter. South Dakota Investment Council increased its holdings in Broadcom Limited by 3.5% in the first quarter. South Dakota Investment Council now owns 23,800 shares of the semiconductor manufacturer’s stock valued at $5,211,000 after buying an additional 800 shares during the last quarter. Oribel Capital Management LP increased its holdings in Broadcom Limited by 72.1% in the first quarter. Oribel Capital Management LP now owns 7,400 shares of the semiconductor manufacturer’s stock valued at $1,620,000 after buying an additional 3,100 shares during the last quarter. Finally, Ngam Advisors L.P. boosted its stake in Broadcom Limited by 0.5% in the first quarter. Ngam Advisors L.P. now owns 117,300 shares of the semiconductor manufacturer’s stock valued at $25,684,000 after acquiring an additional 626 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $247.83, for a total transaction of $4,956,600.00. The disclosure for this sale can be found here. Insiders sold 81,788 shares of company stock valued at $20,054,837 over the last three months. Insiders own 3.60% of the company’s stock.
Broadcom Limited (NASDAQ:AVGO) traded down $0.68 during trading on Friday, reaching $264.96. 2,033,800 shares of the company’s stock traded hands, compared to its average volume of 2,752,515. The firm has a market cap of $108,375.66, a price-to-earnings ratio of 20.08, a PEG ratio of 1.31 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom Limited has a 1 year low of $160.62 and a 1 year high of $281.80.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.89 earnings per share. research analysts expect that Broadcom Limited will post 13.91 EPS for the current fiscal year.
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Several equities analysts have issued reports on AVGO shares. Barclays PLC raised their price objective on shares of Broadcom Limited from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Vetr downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research report on Monday, September 4th. Zacks Investment Research raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 target price for the company in a report on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and issued a $290.00 target price on shares of Broadcom Limited in a report on Tuesday, October 17th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $300.00 target price on shares of Broadcom Limited in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have issued a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $283.48.
Broadcom Limited Company 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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