AllSquare Wealth Management LLC Takes Position in Broadcom Limited (AVGO)
AllSquare Wealth Management LLC bought a new position in Broadcom Limited (NASDAQ:AVGO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 466 shares of the semiconductor manufacturer’s stock, valued at approximately $113,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom Limited during the second quarter worth approximately $113,000. Shine Investment Advisory Services Inc. acquired a new stake in Broadcom Limited in the second quarter valued at approximately $116,000. D. Scott Neal Inc. acquired a new stake in Broadcom Limited in the second quarter valued at approximately $127,000. Tower Research Capital LLC TRC lifted its stake in Broadcom Limited by 473.0% in the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares during the last quarter. Finally, Catamount Wealth Management acquired a new stake in Broadcom Limited in the second quarter valued at approximately $140,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down $0.34 during trading on Monday, reaching $264.62. 1,750,310 shares of the company’s stock traded hands, compared to its average volume of 2,752,515. The company has a market cap of $107,820.00, a price-to-earnings ratio of 20.03, a PEG ratio of 1.31 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $281.80.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 EPS. sell-side analysts forecast that Broadcom Limited will post 13.91 EPS for the current year.
In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $247.83, for a total value of $4,956,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,788 shares of company stock worth $20,054,837. 3.60% of the stock is owned by insiders.
A number of research firms have issued reports on AVGO. B. Riley lifted their target price on shares of Broadcom Limited from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Loop Capital reiterated a “buy” rating and issued a $302.00 target price on shares of Broadcom Limited in a research note on Friday, August 25th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $281.00 target price on shares of Broadcom Limited in a research note on Thursday, October 12th. Morgan Stanley reiterated a “buy” rating and issued a $290.00 target price on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $300.00 target price on shares of Broadcom Limited in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $284.31.
About Broadcom Limited
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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