Sumitomo Mitsui Asset Management Company LTD increased its holdings in Broadcom Limited (NASDAQ:AVGO) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547,197 shares of the semiconductor manufacturer’s stock after acquiring an additional 46,419 shares during the period. Broadcom Limited comprises 2.1% of Sumitomo Mitsui Asset Management Company LTD’s investment portfolio, making the stock its 4th biggest holding. Sumitomo Mitsui Asset Management Company LTD owned 0.13% of Broadcom Limited worth $132,717,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Managed Accounts LLC acquired a new stake in shares of Broadcom Limited in the 1st quarter worth about $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom Limited in the 2nd quarter worth about $113,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom Limited in the 2nd quarter worth about $116,000. Archford Capital Strategies LLC raised its holdings in shares of Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after acquiring an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. bought a new stake in Broadcom Limited in the 2nd quarter worth about $127,000. Institutional investors own 90.11% of the company’s stock.
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A number of brokerages have issued reports on AVGO. B. Riley upped their price objective on shares of Broadcom Limited from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Loop Capital reaffirmed a “buy” rating and issued a $302.00 price objective on shares of Broadcom Limited in a research report on Friday, August 25th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $281.00 price objective on shares of Broadcom Limited in a research report on Thursday, October 12th. Morgan Stanley reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Broadcom Limited in a research report on Friday, August 25th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $284.31.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $247.83, for a total value of $4,956,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,788 shares of company stock worth $20,054,837. 3.60% of the stock is owned by insiders.
Broadcom Limited (NASDAQ AVGO) opened at $263.26 on Wednesday. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80. The company has a market cap of $108,080.00, a price-to-earnings ratio of 20.03, a P/E/G ratio of 1.31 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the firm earned $2.89 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. research analysts forecast that Broadcom Limited will post 13.91 earnings per share for the current year.
About Broadcom Limited
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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