Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Broadcom Ltd (NASDAQ:AVGO) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,871 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,668 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Broadcom were worth $16,701,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Numeric Investors LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth $207,000. AHL Partners LLP lifted its stake in shares of Broadcom by 263.3% during the 2nd quarter. AHL Partners LLP now owns 8,346 shares of the semiconductor manufacturer’s stock worth $1,945,000 after purchasing an additional 6,049 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth $854,000. Tower Research Capital LLC TRC lifted its stake in shares of Broadcom by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 473 shares during the last quarter. Finally, Intellectus Partners LLC lifted its stake in shares of Broadcom by 6.0% during the 2nd quarter. Intellectus Partners LLC now owns 1,681 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
AVGO has been the subject of a number of analyst reports. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective for the company. in a research note on Monday, November 27th. Royal Bank of Canada reaffirmed a “top pick” rating and set a $285.00 target price on shares of Broadcom in a research report on Wednesday, October 11th. Nomura upped their target price on Broadcom to $330.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Mizuho upped their target price on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, BidaskClub raised Broadcom from a “strong sell” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $301.33.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The company’s revenue was up 17.1% compared to the same quarter last year. research analysts expect that Broadcom Ltd will post 17.41 EPS for the current fiscal year.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $265.21, for a total transaction of $5,304,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Insiders sold 86,674 shares of company stock worth $22,659,390 in the last 90 days. Company insiders own 3.60% of the company’s stock.
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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