Clearbridge LLC trimmed its stake in shares of Broadcom Ltd (NASDAQ:AVGO) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,594 shares of the semiconductor manufacturer’s stock after selling 2,422 shares during the quarter. Clearbridge LLC’s holdings in Broadcom were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. BKD Wealth Advisors LLC lifted its position in Broadcom by 8.7% during the 4th quarter. BKD Wealth Advisors LLC now owns 2,399 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 193 shares during the period. Cetera Advisor Networks LLC lifted its position in Broadcom by 14.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 1,541 shares of the semiconductor manufacturer’s stock worth $373,000 after acquiring an additional 194 shares during the period. Palladium Partners LLC lifted its position in Broadcom by 6.8% during the 3rd quarter. Palladium Partners LLC now owns 3,141 shares of the semiconductor manufacturer’s stock worth $762,000 after acquiring an additional 200 shares during the period. Kistler Tiffany Companies LLC lifted its holdings in shares of Broadcom by 25.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 1,040 shares of the semiconductor manufacturer’s stock valued at $267,000 after buying an additional 208 shares during the period. Finally, M&R Capital Management Inc. lifted its holdings in shares of Broadcom by 0.7% in the 4th quarter. M&R Capital Management Inc. now owns 31,590 shares of the semiconductor manufacturer’s stock valued at $8,112,000 after buying an additional 210 shares during the period. 88.67% of the stock is owned by institutional investors.
Broadcom Ltd (AVGO) opened at $253.78 on Friday. 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 firm has a market capitalization of $104,173.39, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. Broadcom Ltd has a 1 year low of $208.44 and a 1 year high of $285.68.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the 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 revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 earnings per share. sell-side analysts forecast that Broadcom Ltd will post 17.41 EPS for the current fiscal year.
Several research firms have recently commented on AVGO. Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price target for the company in a report on Monday, November 27th. 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. B. Riley reissued a “buy” rating and issued a $315.00 price target on shares of Broadcom in a report on Monday, November 20th. BMO Capital Markets began coverage on Broadcom in a report on Monday, November 20th. They issued an “outperform” rating and a $330.00 price target for the company. Finally, Royal Bank of Canada raised their price target on Broadcom from $300.00 to $315.00 and gave the company a “top pick” rating in a report on Monday, November 20th. Three investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $305.81.
In other Broadcom news, insider Kirsten M. Spears sold 199 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $243.88, for a total transaction of $48,532.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $259.68, for a total value of $5,193,600.00. The disclosure for this sale can be found here. Insiders have sold 84,481 shares of company stock valued at $21,805,795 in the last three months. 3.32% of the stock is currently owned by company insiders.
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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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