Cambridge Financial Group Inc. lessened its position in Broadcom Limited (NASDAQ:AVGO) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,077 shares of the semiconductor manufacturer’s stock after selling 346 shares during the quarter. Broadcom accounts for approximately 3.4% of Cambridge Financial Group Inc.’s portfolio, making the stock its 15th largest holding. Cambridge Financial Group Inc.’s holdings in Broadcom were worth $6,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. boosted its position in Broadcom by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after buying an additional 793,335 shares during the period. BlackRock Inc. boosted its position in Broadcom by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after buying an additional 798,982 shares during the period. State Street Corp boosted its position in Broadcom by 1.6% during the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after buying an additional 255,044 shares during the period. Ameriprise Financial Inc. boosted its position in Broadcom by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after buying an additional 1,338,695 shares during the period. Finally, Jennison Associates LLC boosted its position in Broadcom by 26.7% during the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after buying an additional 1,128,052 shares during the period. 88.98% of the stock is currently owned by institutional investors and hedge funds.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $247.83, for a total transaction of $4,956,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were 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 have sold 73,389 shares of company stock valued at $18,392,076 in the last ninety days. Insiders own 3.60% of the company’s stock.

Several analysts have issued reports on the stock. Vetr upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating and set a $290.34 price target for the company in a research report on Tuesday. Nomura increased their target price on shares of Broadcom to $330.00 and gave the stock a “buy” rating in a report on Friday, December 8th. DA Davidson increased their target price on shares of Broadcom to $325.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Drexel Hamilton reiterated a “buy” rating and set a $302.00 target price on shares of Broadcom in a report on Thursday, December 7th. Finally, Craig Hallum reiterated a “buy” rating and set a $330.00 target price (up from $290.00) on shares of Broadcom in a report on Thursday, December 7th. Four analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. Broadcom presently has an average rating of “Buy” and an average price target of $303.13.

Shares of Broadcom Limited (AVGO) opened at $262.03 on Thursday. The company has a quick ratio of 5.80, a current ratio of 6.39 and a debt-to-equity ratio of 0.75. Broadcom Limited has a 1-year low of $173.31 and a 1-year high of $285.68. The company has a market cap of $105,544.27, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the business posted $3.47 earnings per share. Broadcom’s quarterly revenue was up 17.1% compared to the same quarter last year. equities analysts anticipate that Broadcom Limited will post 16.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th will be paid a dividend of $1.75 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.67%. Broadcom’s dividend payout ratio (DPR) is currently 95.77%.

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Broadcom 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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