Broadcom Ltd (AVGO) Holdings Lowered by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of Broadcom Ltd (NASDAQ:AVGO) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,812 shares of the semiconductor manufacturer’s stock after selling 7,134 shares during the quarter. Neuberger Berman Group LLC’s holdings in Broadcom were worth $10,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $113,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $113,000. Tower Research Capital LLC TRC raised its holdings in shares of Broadcom by 473.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 473 shares in the last quarter. Carroll Financial Associates Inc. raised its holdings in shares of Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after purchasing an additional 220 shares in the last quarter. Finally, Balentine LLC raised its holdings in shares of Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock worth $148,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

AVGO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a report on Tuesday, August 29th. B. Riley restated a “buy” rating and set a $305.00 price target on shares of Broadcom in a report on Thursday, August 31st. Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a report on Monday, September 4th. JPMorgan Chase & Co. restated a “buy” rating and set a $315.00 price target on shares of Broadcom in a report on Tuesday, September 12th. Finally, KeyCorp restated an “overweight” rating on shares of Broadcom in a report on Thursday, September 14th. Four investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $303.29.

In other Broadcom news, insider Hock E. Tan sold 20,789 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $259.85, for a total transaction of $5,402,021.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. Insiders sold a total of 96,674 shares of company stock worth $24,717,990 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Shares of Broadcom Ltd (AVGO) opened at $258.10 on Wednesday. The company has a market cap of $107,396.25, a PE ratio of 60.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a current ratio of 6.39, a quick ratio of 5.80 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a fifty-two week low of $173.31 and a fifty-two week high of $285.68.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 11.48% and a return on equity of 10.55%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.47 EPS. equities analysts forecast that Broadcom Ltd will post 16.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s dividend payout ratio (DPR) is currently 164.32%.

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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.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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