Eagle Asset Management Inc. Reduces Holdings in Broadcom Limited (AVGO)

Eagle Asset Management Inc. trimmed its position in Broadcom Limited (NASDAQ:AVGO) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,720 shares of the semiconductor manufacturer’s stock after selling 273 shares during the period. Eagle Asset Management Inc.’s holdings in Broadcom were worth $4,261,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVGO. Egerton Capital UK LLP purchased a new position in Broadcom in the second quarter worth about $163,499,000. Busey Trust CO purchased a new position in Broadcom in the second quarter worth about $223,000. Ingalls & Snyder LLC boosted its position in Broadcom by 8.6% in the second quarter. Ingalls & Snyder LLC now owns 1,331 shares of the semiconductor manufacturer’s stock worth $310,000 after purchasing an additional 105 shares during the last quarter. Sei Investments Co. boosted its position in Broadcom by 20.5% in the second quarter. Sei Investments Co. now owns 493,272 shares of the semiconductor manufacturer’s stock worth $114,957,000 after purchasing an additional 83,927 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Broadcom by 4.6% in the second quarter. Stratos Wealth Partners LTD. now owns 3,431 shares of the semiconductor manufacturer’s stock worth $800,000 after purchasing an additional 152 shares during the last quarter. 88.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at $263.61 on Tuesday. The stock has a market capitalization of $107,550.00, a P/E ratio of 20.53, a P/E/G ratio of 1.30 and a beta of 1.05. Broadcom Limited has a 12 month low of $162.40 and a 12 month high of $285.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48.

In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of Broadcom stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom stock in a transaction that occurred 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 have sold a total of 104,383 shares of company stock worth $25,949,184 in the last three months. 3.60% of the stock is owned by corporate insiders.

A number of research analysts have recently weighed in on AVGO shares. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $261.95 price objective on the stock in a research report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 price objective (up from $270.00) on shares of Broadcom in a research report on Saturday, August 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 price objective on shares of Broadcom in a research report on Thursday, August 31st. BidaskClub cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus target price of $290.42.

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Broadcom Company 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.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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