Teacher Retirement System of Texas grew its stake in Broadcom Limited (NASDAQ:AVGO) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,187 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,599 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Broadcom Limited worth $62,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new position in Broadcom Limited in the second quarter valued at approximately $113,000. AllSquare Wealth Management LLC acquired a new position in Broadcom Limited in the third quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. acquired a new position in Broadcom Limited in the second quarter valued at approximately $116,000. D. Scott Neal Inc. acquired a new position in Broadcom Limited in the second quarter valued at approximately $127,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Broadcom Limited by 473.0% in the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.
In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $247.83, for a total transaction of $4,956,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,788 shares of company stock worth $20,054,837. Corporate insiders own 3.60% of the company’s stock.
AVGO has been the topic of a number of recent analyst reports. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price objective on the stock in a report on Monday, August 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $285.00 price objective (up from $270.00) on shares of Broadcom Limited in a report on Saturday, August 26th. B. Riley reiterated a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Thursday, August 31st. BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research cut Broadcom Limited from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited presently has a consensus rating of “Buy” and an average target price of $284.31.
Broadcom Limited (NASDAQ AVGO) traded down $1.10 during midday trading on Tuesday, hitting $263.91. The company had a trading volume of 587,262 shares, compared to its average volume of 2,752,762. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $281.80. The stock has a market capitalization 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 quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the company posted $2.89 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. equities analysts forecast that Broadcom Limited will post 13.91 EPS 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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