First Business Financial Services Inc. Buys New Position in Broadcom Ltd (AVGO)

First Business Financial Services Inc. bought a new stake in Broadcom Ltd (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,941 shares of the semiconductor manufacturer’s stock, valued at approximately $756,000.

A number of other hedge funds also recently modified their holdings of the business. Swiss National Bank boosted its stake in Broadcom by 1.4% in the fourth quarter. Swiss National Bank now owns 1,500,013 shares of the semiconductor manufacturer’s stock valued at $385,353,000 after acquiring an additional 20,400 shares during the period. BP PLC boosted its stake in Broadcom by 4.4% in the fourth quarter. BP PLC now owns 47,000 shares of the semiconductor manufacturer’s stock valued at $12,094,000 after acquiring an additional 2,000 shares during the period. AE Wealth Management LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $249,000. ING Groep NV acquired a new position in Broadcom in the fourth quarter valued at approximately $12,921,000. Finally, BT Investment Management Ltd boosted its stake in Broadcom by 35.6% in the fourth quarter. BT Investment Management Ltd now owns 8,943 shares of the semiconductor manufacturer’s stock valued at $2,297,000 after acquiring an additional 2,350 shares during the period. Institutional investors own 88.54% of the company’s stock.

A number of equities analysts have commented on the company. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $290.34 target price for the company. in a research note on Monday, November 27th. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating and set a $316.00 target price for the company in a research note on Monday, November 27th. Mizuho restated a “buy” rating and issued a $290.00 target price on shares of Broadcom in a research note on Monday, November 6th. Drexel Hamilton reiterated a “buy” rating and set a $302.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Finally, B. Riley reiterated a “buy” rating and set a $315.00 price objective on shares of Broadcom in a research report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $301.33.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $265.21, for a total value of $5,304,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total value of $205,328.40. The disclosure for this sale can be found here. Insiders sold 86,674 shares of company stock valued at $22,659,390 over the last 90 days. 3.60% of the stock is currently owned by insiders.

Shares of Broadcom Ltd (NASDAQ AVGO) opened at $235.50 on Friday. The firm has a market capitalization of $98,560.00, a P/E ratio of 59.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. Broadcom Ltd has a 52-week low of $202.61 and a 52-week high of $285.68.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 earnings per share. equities analysts predict that Broadcom Ltd will post 17.41 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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