Broadcom Ltd (AVGO) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its holdings in shares of Broadcom Ltd (NASDAQ:AVGO) by 13.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 65,274 shares of the semiconductor manufacturer’s stock after selling 9,824 shares during the period. Daiwa Securities Group Inc.’s holdings in Broadcom were worth $16,769,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AVGO. Janus Henderson Group PLC grew its holdings in shares of Broadcom by 80.3% during the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after purchasing an additional 1,512,956 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Broadcom by 112.8% in the third quarter. Egerton Capital UK LLP now owns 1,493,024 shares of the semiconductor manufacturer’s stock valued at $362,118,000 after acquiring an additional 791,460 shares during the last quarter. Koch Industries Inc. bought a new position in Broadcom in the second quarter valued at about $627,000. Asset Management One Co. Ltd. boosted its holdings in Broadcom by 5,482.5% in the third quarter. Asset Management One Co. Ltd. now owns 604,530 shares of the semiconductor manufacturer’s stock valued at $146,624,000 after acquiring an additional 593,701 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Broadcom by 8.1% in the fourth quarter. Jennison Associates LLC now owns 5,583,858 shares of the semiconductor manufacturer’s stock valued at $1,434,493,000 after acquiring an additional 418,420 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

In related news, CFO Thomas H. Krause sold 2,595 shares of Broadcom stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $265.21, for a total value of $5,304,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,674 shares of company stock worth $22,659,390. 3.60% of the stock is currently owned by insiders.

AVGO has been the topic of several recent research reports. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price target on the stock. in a report on Monday, November 27th. Nomura raised their price target on Broadcom to $330.00 and gave the company a “buy” rating in a report on Friday, December 8th. Mizuho raised their price target on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, December 7th. BidaskClub upgraded Broadcom from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Zacks Investment Research cut Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $301.33.

Shares of Broadcom Ltd (AVGO) opened at $235.50 on Friday. The company has a market capitalization of $94,078.34, a PE ratio of 15.94, a PEG ratio of 0.96 and a beta of 0.88. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a 1 year low of $202.61 and a 1 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, topping the Zacks’ 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 return on equity of 28.64% and a net margin of 10.18%. Broadcom’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.47 earnings per share. research analysts forecast that Broadcom Ltd will post 17.41 EPS for the current year.

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About Broadcom

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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