Alps Advisors Inc. lifted its stake in Broadcom Limited (NASDAQ:AVGO) by 120.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,084 shares of the semiconductor manufacturer’s stock after buying an additional 1,137 shares during the period. Alps Advisors Inc.’s holdings in Broadcom Limited were worth $505,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc purchased a new position in shares of Broadcom Limited in the second quarter worth about $113,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Broadcom Limited in the second quarter worth about $116,000. D. Scott Neal Inc. purchased a new position in shares of Broadcom Limited in the second quarter worth about $127,000. Tower Research Capital LLC TRC increased 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 during the period. Finally, Catamount Wealth Management purchased a new position in shares of Broadcom Limited in the second quarter worth about $140,000. Hedge funds and other institutional investors own 90.11% of the company’s stock.
In other news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction on Monday, September 11th. The stock was 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. Insiders sold a total of 104,383 shares of company stock valued at $25,949,184 over the last 90 days. 3.60% of the stock is currently owned by company insiders.
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Several research firms have recently commented on AVGO. Nomura reiterated a “buy” rating on shares of Broadcom Limited in a report on Tuesday. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom Limited in a report on Monday, November 13th. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $291.95 price target on the stock in a report on Monday, November 13th. SunTrust Banks, Inc. boosted their price target on Broadcom Limited to $325.00 and gave the company a “positive” rating in a report on Tuesday, November 7th. Finally, Mizuho restated a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $284.31.
Shares of Broadcom Limited (NASDAQ AVGO) opened at $271.86 on Friday. The firm has a market cap of $111,020.00, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $281.80.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 EPS. equities research analysts predict that Broadcom Limited will post 13.91 earnings per share for the current year.
About Broadcom Limited
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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