Cim Investment Mangement Inc. Has $628,000 Position in Broadcom Inc (AVGO)

Cim Investment Mangement Inc. lessened its holdings in Broadcom Inc (NASDAQ:AVGO) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 2,471 shares of the semiconductor manufacturer’s stock after selling 100 shares during the quarter. Cim Investment Mangement Inc.’s holdings in Broadcom were worth $628,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Capital International Investors boosted its position in shares of Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after purchasing an additional 22,955,578 shares during the period. FMR LLC purchased a new position in Broadcom in the 2nd quarter worth about $2,768,560,000. Bank of New York Mellon Corp bought a new position in Broadcom during the 2nd quarter worth about $1,127,357,000. Capital Research Global Investors grew its holdings in Broadcom by 16.3% during the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after acquiring an additional 3,608,395 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Broadcom by 121.7% in the 3rd quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after buying an additional 2,358,329 shares in the last quarter. Hedge funds and other institutional investors own 89.34% of the company’s stock.

A number of equities analysts have issued reports on AVGO shares. BidaskClub raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Deutsche Bank reaffirmed a “buy” rating and set a $310.00 target price on shares of Broadcom in a report on Thursday, November 8th. assumed coverage on shares of Broadcom in a research note on Thursday, November 8th. They issued a “buy” rating and a $310.00 price target on the stock. B. Riley raised shares of Broadcom from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Monday, December 3rd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $300.00 price target on shares of Broadcom in a research note on Wednesday, December 5th. Nine investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $288.93.

In related news, CFO Thomas H. Krause sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $257.08, for a total value of $5,784,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,723 shares of company stock valued at $24,926,174. Company insiders own 3.30% of the company’s stock.

Shares of NASDAQ:AVGO opened at $274.06 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $280.00. The firm has a market cap of $111.62 billion, a PE ratio of 14.55, a P/E/G ratio of 1.24 and a beta of 0.72.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating the consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business earned $4.59 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc will post 18.59 EPS for the current year.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. 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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