First Republic Investment Management Inc. raised its holdings in Broadcom Limited (NASDAQ:AVGO) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 299,227 shares of the semiconductor manufacturer’s stock after buying an additional 3,713 shares during the quarter. First Republic Investment Management Inc. owned 0.07% of Broadcom worth $72,574,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom during the third quarter valued at approximately $113,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom during the second quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $116,000. Tower Research Capital LLC TRC increased its holdings in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Broadcom by 59.0% during the third quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after acquiring an additional 220 shares in the last quarter. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of the business’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 legal filing with the SEC, which is available at this link. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. In the last three months, insiders sold 104,383 shares of company stock worth $25,949,184. Insiders own 3.60% of the company’s stock.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the previous year, the firm earned $3.47 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. equities analysts expect that Broadcom Limited will post 13.93 EPS for the current year.
Several equities research analysts have recently commented on AVGO shares. Deutsche Bank boosted their price objective on Broadcom from $275.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Sanford C. Bernstein restated an “outperform” rating and set a $285.00 price objective on shares of Broadcom in a report on Tuesday, October 10th. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a report on Monday, September 4th. Finally, Barclays upped their price target on Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Five research 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 currently has a consensus rating of “Buy” and a consensus price target of $293.51.
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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