Cetera Advisors LLC raised its position in shares of Broadcom Ltd (NASDAQ:AVGO) by 50.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,375 shares of the semiconductor manufacturer’s stock after buying an additional 798 shares during the quarter. Cetera Advisors LLC’s holdings in Broadcom were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in AVGO. Cetera Investment Advisers bought a new stake in shares of Broadcom during the 2nd quarter valued at about $228,000. Intl Fcstone Inc. bought a new stake in shares of Broadcom during the 2nd quarter valued at about $1,104,000. Quantitative Systematic Strategies LLC grew its stake in shares of Broadcom by 348.3% during the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after purchasing an additional 3,368 shares during the period. Arcadia Investment Management Corp MI grew its stake in shares of Broadcom by 1.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 21,962 shares of the semiconductor manufacturer’s stock valued at $5,327,000 after purchasing an additional 272 shares during the period. Finally, Inverness Counsel LLC NY grew its stake in shares of Broadcom by 3.2% during the 3rd quarter. Inverness Counsel LLC NY now owns 71,653 shares of the semiconductor manufacturer’s stock valued at $17,379,000 after purchasing an additional 2,253 shares during the period. Institutional investors and hedge funds own 88.46% of the company’s stock.
A number of equities research analysts have issued reports on AVGO shares. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price target for the company. in a research note on Monday, November 27th. Nomura boosted their price objective on Broadcom to $330.00 and gave the company a “buy” rating in a research note on Friday, December 8th. Mizuho boosted their price objective on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. BidaskClub upgraded Broadcom from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. One equities 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 assigned a strong buy rating to the company. Broadcom has an average rating of “Buy” and an average target price of $301.58.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $248.89 on Friday. The stock has a market capitalization of $101,540.00, a P/E ratio of 63.33, a PEG ratio of 1.05 and a beta of 0.88. Broadcom Ltd has a twelve month low of $202.61 and a twelve month high of $285.68. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 EPS. equities research analysts predict that Broadcom Ltd will post 17.41 earnings per share for the current fiscal year.
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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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