American International Group Inc. boosted its stake in shares of Broadcom Ltd (NASDAQ:AVGO) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 171,899 shares of the semiconductor manufacturer’s stock after buying an additional 3,611 shares during the period. American International Group Inc.’s holdings in Broadcom were worth $44,161,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Broadcom by 2.1% in the fourth quarter. BlackRock Inc. now owns 24,924,233 shares of the semiconductor manufacturer’s stock valued at $6,403,033,000 after purchasing an additional 508,470 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of 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 purchasing an additional 418,420 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Broadcom by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 5,309,909 shares of the semiconductor manufacturer’s stock valued at $1,287,864,000 after purchasing an additional 36,356 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Broadcom by 80.3% in the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after purchasing an additional 1,512,956 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Broadcom by 12.2% in the third quarter. Allianz Asset Management GmbH now owns 2,736,846 shares of the semiconductor manufacturer’s stock valued at $663,795,000 after purchasing an additional 297,100 shares during the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.
In other news, SVP Charlie B. Kawwas sold 1,051 shares of Broadcom stock in a transaction on Monday, December 18th. The stock was sold at an average price of $264.38, for a total transaction of $277,863.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Tuesday, January 16th. The stock was 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. Insiders have sold 64,079 shares of company stock valued at $16,765,043 in the last three months. Insiders own 3.60% of the company’s stock.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the business posted $3.47 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. equities analysts predict that Broadcom Ltd will post 17.41 EPS for the current year.
AVGO has been the topic of a number of recent research reports. KeyCorp reiterated an “overweight” rating and issued a $320.00 price objective (up from $290.00) on shares of Broadcom in a report on Monday, December 4th. Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. BidaskClub cut shares of Broadcom from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Credit Suisse Group reissued a “buy” rating on shares of Broadcom in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada raised their target price on shares of Broadcom from $300.00 to $315.00 and gave the company a “top pick” rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $301.58.
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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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