Selway Asset Management acquired a new position in Broadcom Limited (NASDAQ:AVGO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,910 shares of the semiconductor manufacturer’s stock, valued at approximately $1,918,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. raised its position in shares of Broadcom Limited by 6.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 90,875 shares of the semiconductor manufacturer’s stock valued at $22,040,000 after buying an additional 5,385 shares during the last quarter. Huntington National Bank acquired a new position in shares of Broadcom Limited during the third quarter valued at about $16,856,000. TCI Wealth Advisors Inc. acquired a new position in shares of Broadcom Limited during the third quarter valued at about $682,000. Davis R M Inc. raised its position in shares of Broadcom Limited by 24.8% during the third quarter. Davis R M Inc. now owns 2,264 shares of the semiconductor manufacturer’s stock valued at $549,000 after buying an additional 450 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Broadcom Limited by 4.1% during the third quarter. Raymond James Trust N.A. now owns 9,848 shares of the semiconductor manufacturer’s stock valued at $2,389,000 after buying an additional 384 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the firm’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. Over the last 90 days, insiders have sold 81,788 shares of company stock worth $20,054,837. 3.60% of the stock is currently owned by company insiders.
A number of research analysts have recently commented on AVGO shares. Deutsche Bank AG upped their price objective on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Broadcom Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Sanford C. Bernstein reissued an “outperform” rating and issued a $285.00 price target on shares of Broadcom Limited in a research report on Tuesday, October 10th. Vetr lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a research report on Monday, September 4th. Finally, Barclays PLC increased their price target on shares of Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $283.48.
Shares of Broadcom Limited (AVGO) opened at $264.96 on Friday. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. The company has a market cap of $108,098.12, a price-to-earnings ratio of 20.03, a P/E/G ratio of 1.31 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business posted $2.89 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. analysts predict that Broadcom Limited will post 13.91 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Selway Asset Management Buys New Holdings in Broadcom Limited (AVGO)” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/12/selway-asset-management-invests-1-92-million-in-broadcom-limited-avgo-stock.html.
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.
Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.