Capital Planning Advisors LLC Grows Stake in Broadcom Limited (AVGO)
Capital Planning Advisors LLC lifted its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 163.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,407 shares during the quarter. Capital Planning Advisors LLC’s holdings in Broadcom Limited were worth $550,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $113,000. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom Limited during the 3rd quarter worth $113,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $116,000. D. Scott Neal Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $127,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Broadcom Limited by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after acquiring an additional 473 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.
AVGO has been the subject of several research reports. Vetr lowered Broadcom Limited from a “buy” rating to a “hold” rating and set a $260.90 price objective for the company. in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and set a $270.00 price objective on shares of Broadcom Limited in a research note on Friday, August 11th. BidaskClub lowered Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Cowen and Company reissued a “buy” rating and set a $260.00 price objective on shares of Broadcom Limited in a research note on Friday, August 11th. Finally, Zacks Investment Research cut Broadcom Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $286.47.
Shares of Broadcom Limited (AVGO) traded down $1.22 during trading hours on Thursday, hitting $275.37. The company had a trading volume of 1,861,622 shares, compared to its average volume of 2,743,606. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80. The stock has a market capitalization of $112,843.02, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company earned $2.89 earnings per share. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. sell-side analysts anticipate that Broadcom Limited will post 13.91 earnings per share for the current fiscal year.
In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is owned by corporate insiders.
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Broadcom Limited 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.
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