Dai Ichi Life Insurance Company Ltd Has $12.30 Million Stake in Broadcom Limited (AVGO)
Dai Ichi Life Insurance Company Ltd decreased its position in shares of Broadcom Limited (NASDAQ:AVGO) by 21.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,701 shares of the semiconductor manufacturer’s stock after selling 13,580 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Broadcom were worth $12,297,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of Broadcom during the second quarter valued at $113,000. AllSquare Wealth Management LLC acquired a new position in shares of Broadcom during the third quarter valued at $113,000. Shine Investment Advisory Services Inc. acquired a new position in shares of Broadcom during the second quarter valued at $116,000. Tower Research Capital LLC TRC boosted its holdings in shares of Broadcom by 473.0% during 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 period. Finally, Catamount Wealth Management acquired a new position in shares of Broadcom during the second quarter valued at $140,000. 89.42% of the stock is owned by institutional investors.
Shares of Broadcom Limited (NASDAQ AVGO) opened at $282.38 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The stock has a market capitalization of $115,205.11, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $282.99.
Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.89 EPS. equities analysts expect that Broadcom Limited will post 13.92 earnings per share for the current year.
In other Broadcom news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom 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 legal filing with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom 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. In the last 90 days, insiders have sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.
AVGO has been the subject of several analyst reports. B. Riley reissued an “avgo (” rating and set a $305.00 price target on shares of Broadcom in a report on Monday, August 21st. Rosenblatt Securities reissued a “buy” rating and set a $270.00 price target on shares of Broadcom in a report on Wednesday, August 23rd. Vetr raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $258.25 price target for the company in a report on Monday, August 21st. Cowen Inc reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Broadcom in a report on Friday, August 11th. Finally, BidaskClub downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $286.42.
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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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