Icon Advisers Inc. Co. Has $18.08 Million Stake in Broadcom Limited (AVGO)
Icon Advisers Inc. Co. increased its holdings in Broadcom Limited (NASDAQ:AVGO) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,530 shares of the semiconductor manufacturer’s stock after buying an additional 1,600 shares during the period. Broadcom Limited accounts for 1.3% of Icon Advisers Inc. Co.’s holdings, making the stock its 8th largest position. Icon Advisers Inc. Co.’s holdings in Broadcom Limited were worth $18,077,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC raised its position in Broadcom Limited by 348.3% during the third quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after purchasing an additional 3,368 shares in the last quarter. Alps Advisors Inc. acquired a new position in Broadcom Limited during the second quarter valued at approximately $221,000. Osborne Partners Capital Management LLC raised its position in Broadcom Limited by 5.5% during the third quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock valued at $2,312,000 after purchasing an additional 499 shares in the last quarter. Principal Financial Group Inc. raised its position in Broadcom Limited by 14.4% during the second quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after purchasing an additional 83,929 shares in the last quarter. Finally, DSAM Partners London Ltd raised its position in Broadcom Limited by 103.4% during the second quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after purchasing an additional 93,890 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.
In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $260.03, for a total transaction of $5,200,600.00. The disclosure for this sale can be found here. Insiders sold a total of 104,383 shares of company stock worth $25,949,184 in the last 90 days. 3.60% of the stock is currently owned by company insiders.
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AVGO has been the subject of several research analyst reports. Deutsche Bank AG boosted their price objective on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of 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 set a $285.00 price target on shares of Broadcom Limited in a report on Tuesday, October 10th. Vetr downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a report on Monday, September 4th. Finally, Barclays PLC upped their price target on shares of Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $286.47.
Broadcom Limited (NASDAQ AVGO) traded down $0.50 on Wednesday, hitting $276.09. 700,732 shares of the company were exchanged, compared to its average volume of 2,747,514. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $281.80. The firm has a market cap of $112,810.00, a price-to-earnings ratio of 20.78, a PEG ratio of 1.36 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business posted $2.89 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. sell-side analysts predict that Broadcom Limited will post 13.91 earnings per share for the current fiscal year.
About Broadcom Limited
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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