Fieldpoint Private Securities LLC Purchases Shares of 924 Broadcom Limited (AVGO)
Fieldpoint Private Securities LLC purchased a new stake in Broadcom Limited (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 924 shares of the semiconductor manufacturer’s stock, valued at approximately $224,000.
Several other institutional investors have also recently bought and sold shares of AVGO. Janus Henderson Group PLC lifted its holdings in shares of Broadcom by 80.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after acquiring an additional 1,512,956 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Broadcom by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Broadcom by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after acquiring an additional 1,128,052 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Broadcom by 3.5% in the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after acquiring an additional 798,982 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Broadcom by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after acquiring an additional 793,335 shares during the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.
In other Broadcom news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. Insiders have sold a total of 53,389 shares of company stock worth $13,462,476 over the last three months. 3.60% of the stock is currently owned by insiders.
Several brokerages have recently commented on AVGO. Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective on the stock. in a report on Monday, November 27th. Zacks Investment Research upgraded shares of Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price objective on the stock in a report on Monday, November 27th. Mizuho restated a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a report on Monday, November 6th. Drexel Hamilton restated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a report on Monday, November 6th. Finally, B. Riley restated a “buy” rating and issued a $315.00 price objective on shares of Broadcom in a report on Monday, November 20th. Four investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $303.13.
Broadcom Limited (NASDAQ AVGO) opened at $259.34 on Friday. Broadcom Limited has a 52-week low of $173.31 and a 52-week high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.80 and a current ratio of 6.39. The stock has a market cap of $105,544.27, a price-to-earnings 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 earnings per share (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 company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period last year, the firm posted $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. equities analysts anticipate that Broadcom Limited will post 16.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Tuesday, December 19th will be given a dividend of $1.75 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s dividend payout ratio (DPR) is presently 95.77%.
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Broadcom 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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