Capital Guardian Trust Co. increased its stake in Broadcom Limited (NASDAQ:AVGO) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 277,330 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,847 shares during the period. Broadcom makes up 1.2% of Capital Guardian Trust Co.’s holdings, making the stock its 22nd biggest holding. Capital Guardian Trust Co. owned 0.07% of Broadcom worth $67,264,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 during the last quarter. BlackRock Inc. grew its position 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 during the last quarter. State Street Corp grew its position in Broadcom by 1.6% in the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after acquiring an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. grew its position 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 during the last quarter. Finally, Jennison Associates LLC grew its position 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 during the last quarter. Institutional investors own 88.99% of the company’s stock.
A number of research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $305.00 target price on shares of Broadcom in a research report on Saturday, August 26th. Craig Hallum reiterated a “buy” rating on shares of Broadcom in a research report on Wednesday, September 13th. Robert W. Baird reiterated an “outperform” rating and issued a $290.00 target price (up previously from $260.00) on shares of Broadcom in a research report on Friday, August 25th. J P Morgan Chase & Co reissued a “buy” rating and set a $315.00 price target on shares of Broadcom in a research note on Tuesday, September 12th. Finally, Jefferies Group set a $286.00 price target on Broadcom and gave the company a “buy” rating in a research note on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $303.13.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.47 earnings per share. analysts predict that Broadcom Limited will post 16.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be paid a $1.75 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s payout ratio is currently 95.77%.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total value of $5,200,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,177 shares of company stock worth $26,154,512. 3.60% of the stock is owned by insiders.
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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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