Zweig DiMenna Associates LLC cut its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,288 shares of the semiconductor manufacturer’s stock after selling 8,392 shares during the quarter. Broadcom Limited makes up approximately 1.9% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 12th largest holding. Zweig DiMenna Associates LLC’s holdings in Broadcom Limited were worth $21,413,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited in the first quarter worth about $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom Limited in the second quarter worth about $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $116,000. D. Scott Neal Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $127,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Broadcom Limited by 473.0% in the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after buying an additional 473 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on AVGO shares. 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 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 target on the stock. in a 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 price target on the stock in a report on Tuesday, August 29th. KeyCorp reissued a “buy” rating and issued a $290.00 price target on shares of Broadcom Limited in a report on Tuesday, October 17th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $300.00 price target on shares of Broadcom Limited in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-one have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $283.48.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,788 shares of company stock valued at $20,054,837. Corporate insiders own 3.60% of the company’s stock.
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Broadcom Limited (NASDAQ:AVGO) traded down $0.68 during midday trading on Friday, reaching $264.96. The company had a trading volume of 2,033,800 shares, compared to its average volume of 3,685,415. The company has a market cap of $108,098.12, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $281.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 EPS. equities research analysts anticipate that Broadcom Limited will post 13.91 EPS for the current year.
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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