Viking Global Investors LP lifted its position in Broadcom Ltd (NASDAQ:AVGO) by 14.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,466,836 shares of the semiconductor manufacturer’s stock after buying an additional 310,906 shares during the quarter. Broadcom makes up about 3.9% of Viking Global Investors LP’s holdings, making the stock its 8th largest holding. Viking Global Investors LP’s holdings in Broadcom were worth $633,730,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AVGO. Nationwide Fund Advisors increased its position in shares of Broadcom by 17.3% in the third quarter. Nationwide Fund Advisors now owns 321,880 shares of the semiconductor manufacturer’s stock worth $78,069,000 after acquiring an additional 47,391 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Broadcom by 21.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 75,017 shares of the semiconductor manufacturer’s stock worth $18,199,000 after acquiring an additional 13,327 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Broadcom in the third quarter worth approximately $564,000. Gabelli Funds LLC purchased a new position in shares of Broadcom in the third quarter worth approximately $6,452,000. Finally, Breton Hill Capital Ltd. purchased a new position in shares of Broadcom in the third quarter worth approximately $783,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Charlie B. Kawwas sold 997 shares of Broadcom stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total value of $243,148.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kirsten M. Spears sold 199 shares of Broadcom stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total transaction of $48,532.12. The disclosure for this sale can be found here. In the last three months, insiders sold 84,481 shares of company stock worth $21,805,795. Insiders own 3.32% of the company’s stock.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $253.78 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. The stock has a market cap of $104,170.00, a P/E ratio of 64.58, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. Broadcom Ltd has a one year low of $208.44 and a one year high of $285.68.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the Zacks’ consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter last year, the firm posted $3.47 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. equities research analysts predict that Broadcom Ltd will post 17.41 EPS for the current fiscal year.
Broadcom Company 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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