Wetherby Asset Management Inc. grew its holdings in Broadcom Ltd (NASDAQ:AVGO) by 13.5% during the 4th quarter, HoldingsChannel reports. The fund owned 6,399 shares of the semiconductor manufacturer’s stock after acquiring an additional 762 shares during the period. Wetherby Asset Management Inc.’s holdings in Broadcom were worth $1,644,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AVGO. Janus Henderson Group PLC lifted its position in shares of Broadcom by 80.3% in the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after buying an additional 1,512,956 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $215,260,000. Egerton Capital UK LLP lifted its position in shares of Broadcom by 112.8% in the third quarter. Egerton Capital UK LLP now owns 1,493,024 shares of the semiconductor manufacturer’s stock worth $362,118,000 after buying an additional 791,460 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Broadcom by 5,482.5% in the third quarter. Asset Management One Co. Ltd. now owns 604,530 shares of the semiconductor manufacturer’s stock worth $146,624,000 after buying an additional 593,701 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Broadcom by 2.1% in the fourth quarter. BlackRock Inc. now owns 24,924,233 shares of the semiconductor manufacturer’s stock worth $6,403,033,000 after buying an additional 508,470 shares in the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.
In other news, SVP Charlie B. Kawwas sold 1,051 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $264.38, for a total transaction of $277,863.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $265.21, for a total value of $5,304,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,079 shares of company stock valued at $16,765,043. 3.60% of the stock is owned by company insiders.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. Broadcom’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.47 earnings per share. analysts expect that Broadcom Ltd will post 17.41 EPS for the current year.
AVGO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Sanford C. Bernstein set a $285.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Monday, October 30th. B. Riley boosted their target price on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. reissued a “buy” rating and set a $315.00 price objective on shares of Broadcom in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Broadcom in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Broadcom currently has an average rating of “Buy” and a consensus price target of $301.58.
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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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