Marco Investment Management LLC Purchases Shares of 4,125 Broadcom Limited (AVGO)
Marco Investment Management LLC purchased a new stake in shares of Broadcom Limited (NASDAQ:AVGO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,125 shares of the semiconductor manufacturer’s stock, valued at approximately $1,000,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantitative Systematic Strategies LLC grew its stake in shares of Broadcom by 348.3% in the 3rd 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 during the period. Alps Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $221,000. Osborne Partners Capital Management LLC grew its stake in shares of Broadcom by 5.5% in the 3rd 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 during the period. Principal Financial Group Inc. grew its stake in shares of Broadcom by 14.4% in the 2nd 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 during the period. Finally, DSAM Partners London Ltd grew its stake in shares of Broadcom by 103.4% in the 2nd 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 during the period. Hedge funds and other institutional investors own 88.98% of the company’s stock.
Broadcom Limited (AVGO) opened at $259.95 on Tuesday. Broadcom Limited has a 1-year low of $173.31 and a 1-year high of $285.68. The company has a current ratio of 6.39, a quick ratio of 5.80 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $106,037.93, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.07. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 EPS. equities analysts expect that Broadcom Limited will post 16.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s dividend payout ratio is 95.77%.
AVGO has been the topic of several recent analyst reports. B. Riley reissued an “avgo (” rating and issued a $305.00 target price on shares of Broadcom in a report on Monday, August 21st. Bank of America reissued a “buy” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, August 25th. Jefferies Group reissued a “buy” rating and issued a $286.00 target price (up from $270.00) on shares of Broadcom in a report on Friday, August 25th. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a report on Monday, August 14th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $270.00 target price on shares of Broadcom in a report on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $303.13.
In other news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $247.83, for a total value of $4,956,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 794 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total value of $205,328.40. The disclosure for this sale can be found here. In the last three months, insiders sold 103,389 shares of company stock worth $25,712,376. 3.60% of the stock is currently owned by company insiders.
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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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