MUFG Americas Holdings Corp lifted its holdings in Broadcom Ltd (NASDAQ:AVGO) by 440.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,405 shares of the semiconductor manufacturer’s stock after buying an additional 1,145 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Broadcom were worth $361,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Broadcom by 4.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,350,163 shares of the semiconductor manufacturer’s stock worth $346,857,000 after buying an additional 53,921 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Broadcom by 0.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,853 shares of the semiconductor manufacturer’s stock worth $20,771,000 after buying an additional 656 shares during the period. Osborne Partners Capital Management LLC grew its position in shares of Broadcom by 5.5% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock worth $2,312,000 after buying an additional 499 shares during the period. Union Bankshares Corp grew its position in shares of Broadcom by 7.6% in the 4th quarter. Union Bankshares Corp now owns 9,234 shares of the semiconductor manufacturer’s stock worth $2,372,000 after buying an additional 652 shares during the period. Finally, Field & Main Bank purchased a new stake in shares of Broadcom in the 4th quarter worth about $2,342,000. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
In other Broadcom news, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total transaction of $205,328.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $265.21, for a total transaction of $5,304,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,079 shares of company stock worth $16,765,043 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, beating 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 net margin of 10.18% and a return on equity of 28.64%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 EPS. equities research analysts forecast that Broadcom Ltd will post 17.41 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on AVGO shares. B. Riley upped their target price on shares of Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Vetr downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating and set a $295.36 price objective on the stock. in a research report on Wednesday, January 3rd. Royal Bank of Canada increased their price objective on shares of Broadcom from $300.00 to $315.00 and gave the company a “top pick” rating in a research report on Monday, November 20th. BidaskClub downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Finally, Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom has an average rating of “Buy” and an average target price 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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