Todd Asset Management LLC grew its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 61.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,010 shares of the semiconductor manufacturer’s stock after acquiring an additional 67,537 shares during the quarter. Broadcom Limited comprises approximately 1.2% of Todd Asset Management LLC’s portfolio, making the stock its 16th biggest position. Todd Asset Management LLC’s holdings in Broadcom Limited were worth $43,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Quantitative Systematic Strategies LLC increased its holdings in Broadcom Limited by 348.3% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock worth $1,051,000 after buying an additional 3,368 shares in the last quarter. Alps Advisors Inc. bought a new stake in Broadcom Limited in the 2nd quarter worth about $221,000. Osborne Partners Capital Management LLC increased its holdings in Broadcom Limited 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 in the last quarter. Principal Financial Group Inc. increased its holdings in Broadcom Limited by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after buying an additional 83,929 shares in the last quarter. Finally, DSAM Partners London Ltd increased its holdings in Broadcom Limited by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after buying an additional 93,890 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.
Broadcom Limited (NASDAQ AVGO) traded down $1.43 during midday trading on Tuesday, hitting $263.58. The stock had a trading volume of 520,931 shares, compared to its average volume of 2,752,762. The company has a market cap of $108,080.00, a P/E ratio of 20.03, a P/E/G ratio of 1.31 and a beta of 1.05. 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 52-week low of $160.62 and a 52-week high of $281.80.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS. research analysts expect that Broadcom Limited will post 13.91 EPS for the current fiscal year.
In other news, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred 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 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.
Several equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $275.00 price objective on shares of Broadcom Limited in a report on Monday, November 6th. B. Riley reiterated a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective for the company in a report on Monday, August 14th. Jefferies Group LLC lifted their price objective on Broadcom Limited from $70.00 to $315.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Finally, BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. Broadcom Limited presently has a consensus rating of “Buy” and an average price target of $284.31.
Broadcom Limited Profile
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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