Koch Industries Inc. trimmed its position in Broadcom Ltd (NASDAQ:AVGO) by 53.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,263 shares of the semiconductor manufacturer’s stock after selling 1,428 shares during the quarter. Koch Industries Inc.’s holdings in Broadcom were worth $324,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AVGO. SeaCrest Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $124,000. FNY Partners Fund LP purchased a new stake in shares of Broadcom during the 4th quarter valued at about $154,000. Independence Bank of Kentucky purchased a new stake in shares of Broadcom during the 4th quarter valued at about $188,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $210,000. Finally, Neville Rodie & Shaw Inc. purchased a new stake in shares of Broadcom during the 4th quarter valued at about $206,000. Institutional investors own 89.52% of the company’s stock.
AVGO has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Broadcom in a research note on Monday, November 20th. They set an “outperform” rating and a $330.00 price objective for the company. Canaccord Genuity raised their price objective on Broadcom from $100.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Nomura restated a “buy” rating on shares of Broadcom in a research note on Tuesday, November 14th. Drexel Hamilton restated a “buy” rating and set a $302.00 price objective on shares of Broadcom in a research note on Thursday, December 7th. Finally, Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $306.75.
Shares of Broadcom Ltd (AVGO) opened at $261.22 on Wednesday. The stock has a market capitalization of $107,962.05, a P/E ratio of 18.25, a P/E/G ratio of 1.10 and a beta of 0.88. Broadcom Ltd has a 1-year low of $208.44 and a 1-year high of $285.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68.
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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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