Commonwealth Equity Services Inc Sells 189 Shares of Broadcom Limited (AVGO)
Commonwealth Equity Services Inc lessened its position in Broadcom Limited (NASDAQ:AVGO) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,971 shares of the semiconductor manufacturer’s stock after selling 189 shares during the period. Commonwealth Equity Services Inc’s holdings in Broadcom Limited were worth $6,299,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Heritage Investors Management Corp acquired a new position in Broadcom Limited in the 2nd quarter worth about $467,000. Private Trust Co. NA increased its holdings in Broadcom Limited by 0.7% in the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after purchasing an additional 13 shares in the last quarter. Central Bank & Trust Co. increased its holdings in Broadcom Limited by 361.0% in the 2nd quarter. Central Bank & Trust Co. now owns 20,631 shares of the semiconductor manufacturer’s stock worth $4,808,000 after purchasing an additional 16,156 shares in the last quarter. Appleton Partners Inc. MA increased its holdings in Broadcom Limited by 14.1% in the 2nd quarter. Appleton Partners Inc. MA now owns 21,415 shares of the semiconductor manufacturer’s stock worth $4,991,000 after purchasing an additional 2,639 shares in the last quarter. Finally, Pennsylvania Trust Co increased its holdings in Broadcom Limited by 48.8% in the 2nd quarter. Pennsylvania Trust Co now owns 55,795 shares of the semiconductor manufacturer’s stock worth $13,003,000 after purchasing an additional 18,294 shares in the last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.
AVGO has been the subject of a number of recent research reports. Deutsche Bank AG upped their target price on Broadcom Limited from $275.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Zacks Investment Research lowered Broadcom Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $285.00 price target on shares of Broadcom Limited in a research report on Tuesday, October 10th. Vetr lowered Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. Finally, Barclays PLC upped their price target on Broadcom Limited from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. 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 assigned 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.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down $0.25 during midday trading on Friday, reaching $271.86. The company’s stock had a trading volume of 2,326,607 shares, compared to its average volume of 3,811,764. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $281.80. The company has a market capitalization of $110,913.16, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the 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 in the prior year, the company earned $2.89 earnings per share. Broadcom Limited’s revenue was up 17.5% compared to the same quarter last year. equities research analysts anticipate that Broadcom Limited will post 13.91 earnings per share for the current fiscal year.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Over the last three months, 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 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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