Arrowstreet Capital Limited Partnership lifted its stake in Broadcom Ltd (NASDAQ:AVGO) by 2,215.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,422 shares of the semiconductor manufacturer’s stock after purchasing an additional 73,122 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Broadcom were worth $19,633,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $113,000. SeaCrest Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $124,000. FNY Partners Fund LP bought a new stake in shares of Broadcom in the 4th quarter worth approximately $154,000. Cable Hill Partners LLC boosted its position in shares of Broadcom by 824.6% in the 3rd quarter. Cable Hill Partners LLC now owns 638 shares of the semiconductor manufacturer’s stock worth $155,000 after purchasing an additional 569 shares in the last quarter. Finally, Independence Bank of Kentucky bought a new stake in shares of Broadcom in the 4th quarter worth approximately $188,000. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Broadcom Ltd (AVGO) opened at $253.71 on Friday. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $104,140.00, a price-to-earnings ratio of 64.56, a PEG ratio of 1.04 and a beta of 0.88. Broadcom Ltd has a 12 month low of $202.61 and a 12 month high of $285.68.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the consensus estimate of $4.52 by $0.07. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. Broadcom’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 EPS. research analysts anticipate that Broadcom Ltd will post 17.41 earnings per share for the current fiscal year.
AVGO has been the topic of a number of analyst reports. KeyCorp reissued an “overweight” rating and issued a $320.00 price target (up from $290.00) on shares of Broadcom in a research report on Monday, December 4th. BidaskClub lowered shares of Broadcom from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Credit Suisse Group restated a “buy” rating on shares of Broadcom in a report on Tuesday, January 23rd. Royal Bank of Canada boosted their price objective on shares of Broadcom from $300.00 to $315.00 and gave the stock a “top pick” rating in a report on Monday, November 20th. Finally, B. Riley boosted their price objective on shares of Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $301.58.
In other news, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total value of $205,328.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock E. Tan sold 20,789 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The disclosure for this sale can be found here. Insiders sold a total of 84,079 shares of company stock valued at $21,719,443 over the last 90 days. 3.60% of the stock is currently owned by company insiders.
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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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