Laurel Grove Capital LLC raised its position in Broadcom Ltd (NASDAQ:AVGO) by 47.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,089 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,789 shares during the quarter. Broadcom makes up 2.4% of Laurel Grove Capital LLC’s portfolio, making the stock its 12th biggest holding. Laurel Grove Capital LLC’s holdings in Broadcom were worth $4,647,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Broadcom by 80.3% during the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after purchasing an additional 1,512,956 shares in the last quarter. Egerton Capital UK LLP grew its holdings in Broadcom by 112.8% during the 3rd quarter. Egerton Capital UK LLP now owns 1,493,024 shares of the semiconductor manufacturer’s stock valued at $362,118,000 after buying an additional 791,460 shares in the last quarter. Koch Industries Inc. purchased a new position in Broadcom during the 2nd quarter valued at approximately $627,000. Asset Management One Co. Ltd. grew its holdings in Broadcom by 5,482.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 604,530 shares of the semiconductor manufacturer’s stock valued at $146,624,000 after buying an additional 593,701 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Broadcom by 12.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,736,846 shares of the semiconductor manufacturer’s stock valued at $663,795,000 after buying an additional 297,100 shares in the last quarter. 88.46% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on AVGO shares. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price target for the company. in a report on Monday, November 27th. Nomura raised their price objective on Broadcom to $330.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Mizuho raised their price objective on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. BidaskClub raised Broadcom from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $301.58.
In related news, SVP Bryan Ingram sold 794 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,789 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,674 shares of company stock valued at $17,458,790. 3.60% of the stock is owned by company insiders.
Broadcom Ltd (AVGO) traded up $1.80 during trading hours on Wednesday, reaching $247.66. The company’s stock had a trading volume of 2,531,133 shares, compared to its average volume of 4,040,000. Broadcom Ltd has a 52 week low of $202.61 and a 52 week high of $285.68. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75. The stock has a market cap of $101,040.00, a price-to-earnings ratio of 63.02, a P/E/G ratio of 1.02 and a beta of 0.88.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period in the previous year, the business earned $3.47 EPS. Broadcom’s quarterly revenue was up 17.1% on a year-over-year basis. analysts anticipate that Broadcom Ltd will post 17.41 earnings per share for the current year.
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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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