Scotia Capital Inc. Buys 859 Shares of Broadcom Ltd (AVGO)
Scotia Capital Inc. grew its stake in shares of Broadcom Ltd (NASDAQ:AVGO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,714 shares of the semiconductor manufacturer’s stock after purchasing an additional 859 shares during the quarter. Scotia Capital Inc.’s holdings in Broadcom were worth $14,829,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Broadcom by 80.3% during the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after buying an additional 1,512,956 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $215,260,000. Coatue Management LLC boosted its position in shares of Broadcom by 28.2% during the fourth quarter. Coatue Management LLC now owns 3,735,957 shares of the semiconductor manufacturer’s stock worth $959,768,000 after buying an additional 821,739 shares during the period. Egerton Capital UK LLP boosted its position in shares of Broadcom by 112.8% during the third quarter. Egerton Capital UK LLP now owns 1,493,024 shares of the semiconductor manufacturer’s stock worth $362,118,000 after buying an additional 791,460 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Broadcom by 5,482.5% during the third quarter. Asset Management One Co. Ltd. now owns 604,530 shares of the semiconductor manufacturer’s stock worth $146,624,000 after buying an additional 593,701 shares during the period. 88.67% of the stock is owned by institutional investors.
In other news, SVP Bryan Ingram sold 794 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $259.68, for a total transaction of $5,193,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,079 shares of company stock worth $21,719,443. Company insiders own 3.32% of the company’s stock.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $3.47 EPS. The company’s revenue was up 17.1% on a year-over-year basis. equities research analysts anticipate that Broadcom Ltd will post 17.41 earnings per share for the current year.
Several equities analysts have recently issued reports on AVGO shares. Vetr downgraded Broadcom from a “strong-buy” rating to a “buy” rating and set a $295.36 price objective for the company. in a research report on Wednesday, January 3rd. Royal Bank of Canada boosted their price objective on Broadcom from $300.00 to $315.00 and gave the stock a “top pick” rating in a research report on Monday, November 20th. BidaskClub downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Canaccord Genuity boosted their price objective on Broadcom from $100.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Broadcom in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Broadcom currently has an average rating of “Buy” and a consensus price target of $305.42.
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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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