Parametric Portfolio Associates LLC Purchases 37,712 Shares of Broadcom Limited (AVGO)

Parametric Portfolio Associates LLC lifted its position in shares of Broadcom Limited (NASDAQ:AVGO) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,671 shares of the semiconductor manufacturer’s stock after purchasing an additional 37,712 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of Broadcom worth $209,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Janus Henderson Group PLC lifted its position in shares of Broadcom by 80.3% during the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after purchasing an additional 1,512,956 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Broadcom by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after acquiring an additional 1,338,695 shares in the last quarter. Jennison Associates LLC raised its holdings in Broadcom by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after acquiring an additional 1,128,052 shares in the last quarter. BlackRock Inc. raised its holdings in Broadcom by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after acquiring an additional 798,982 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Broadcom by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after acquiring an additional 793,335 shares in the last quarter. 88.98% of the stock is currently owned by institutional investors and hedge funds.

In other Broadcom news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $240.62, for a total value of $2,406,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $247.83, for a total transaction of $4,956,600.00. The disclosure for this sale can be found here. Insiders sold a total of 53,389 shares of company stock valued at $13,462,476 over the last three months. 3.60% of the stock is owned by corporate insiders.

Broadcom Limited (AVGO) opened at $259.34 on Friday. The stock has a market cap of $105,544.27, a PE ratio of 17.97, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 5.80. Broadcom Limited has a 12-month low of $173.31 and a 12-month high of $285.68.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the prior year, the company earned $3.47 EPS. Broadcom’s revenue was up 17.1% on a year-over-year basis. equities analysts forecast that Broadcom Limited will post 16.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.70%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 18th. Broadcom’s dividend payout ratio is presently 95.77%.

Several analysts recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and issued a $305.00 price target on shares of Broadcom in a report on Saturday, August 26th. Craig Hallum reaffirmed a “buy” rating on shares of Broadcom in a report on Wednesday, September 13th. Mizuho reaffirmed a “buy” rating and issued a $310.00 price target on shares of Broadcom in a report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $290.00 price target (up from $260.00) on shares of Broadcom in a report on Friday, August 25th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $315.00 price target on shares of Broadcom in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $303.13.

ILLEGAL ACTIVITY WARNING: This news story was reported by Week Herald and is the sole property of of Week Herald. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://weekherald.com/2017/12/15/parametric-portfolio-associates-llc-purchases-37712-shares-of-broadcom-limited-avgo.html.

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Limited (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply