Broadcom Ltd (AVGO) Stake Increased by Bridges Investment Management Inc.

Bridges Investment Management Inc. grew its holdings in Broadcom Ltd (NASDAQ:AVGO) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,832 shares of the semiconductor manufacturer’s stock after buying an additional 470 shares during the quarter. Bridges Investment Management Inc.’s holdings in Broadcom were worth $985,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. TTP Investments Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $2,340,000. Rhumbline Advisers increased its position in shares of Broadcom by 2.0% in the fourth quarter. Rhumbline Advisers now owns 651,516 shares of the semiconductor manufacturer’s stock valued at $167,374,000 after buying an additional 12,576 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Broadcom by 70.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 127,911 shares of the semiconductor manufacturer’s stock valued at $32,870,000 after buying an additional 52,894 shares in the last quarter. Arizona State Retirement System increased its position in shares of Broadcom by 2.7% in the fourth quarter. Arizona State Retirement System now owns 107,099 shares of the semiconductor manufacturer’s stock valued at $27,514,000 after buying an additional 2,844 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of Broadcom by 338.7% in the fourth quarter. Trexquant Investment LP now owns 13,978 shares of the semiconductor manufacturer’s stock valued at $3,591,000 after buying an additional 10,792 shares in the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.

In other news, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction 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 SEC, which is available at the SEC website. Also, insider Hock E. Tan sold 20,789 shares of the company’s stock in a transaction on Monday, December 18th. The shares were 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. In the last ninety days, insiders sold 64,079 shares of company stock worth $16,765,043. Corporate insiders own 3.60% of the company’s stock.

A number of analysts have recently commented on AVGO shares. Mizuho restated a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Drexel Hamilton restated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Oppenheimer restated a “buy” rating and issued a $275.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Nomura restated a “buy” rating and issued a $300.00 price objective (up from $273.63) on shares of Broadcom in a research report on Monday, November 6th. Finally, Jefferies Group boosted their price target on Broadcom from $70.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. Broadcom currently has a consensus rating of “Buy” and a consensus target price of $301.58.

Broadcom Ltd (NASDAQ:AVGO) opened at $248.89 on Friday. Broadcom Ltd has a 12 month low of $202.61 and a 12 month high of $285.68. The company has a market capitalization of $101,540.00, a price-to-earnings ratio of 63.33, a PEG ratio of 1.05 and a beta of 0.88. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating 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 business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the company posted $3.47 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. sell-side analysts expect that Broadcom Ltd will post 17.41 earnings per share for the current year.

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About Broadcom

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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