Westpac Banking Corp Sells 753 Shares of Broadcom Limited (AVGO)
Westpac Banking Corp reduced its stake in shares of Broadcom Limited (NASDAQ:AVGO) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,942 shares of the semiconductor manufacturer’s stock after selling 753 shares during the period. Westpac Banking Corp’s holdings in Broadcom Limited were worth $6,292,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. First Heartland Consultants Inc. raised its holdings in Broadcom Limited by 0.7% during the first quarter. First Heartland Consultants Inc. now owns 3,765 shares of the semiconductor manufacturer’s stock valued at $824,000 after buying an additional 25 shares in the last quarter. BlackRock Inc. raised its holdings in Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares in the last quarter. Chescapmanager LLC bought a new position in Broadcom Limited during the first quarter valued at about $9,472,000. KCG Holdings Inc. raised its holdings in Broadcom Limited by 20.2% during the first quarter. KCG Holdings Inc. now owns 22,992 shares of the semiconductor manufacturer’s stock valued at $5,034,000 after buying an additional 3,864 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Broadcom Limited by 5.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,186,821 shares of the semiconductor manufacturer’s stock valued at $259,867,000 after buying an additional 62,334 shares in the last quarter. Institutional investors own 89.79% of the company’s stock.
Broadcom Limited (AVGO) opened at $273.63 on Friday. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $105.87 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.23 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. equities analysts forecast that Broadcom Limited will post 13.9 earnings per share for the current year.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction on Monday, October 16th. The shares were sold at an average price of $247.83, for a total transaction of $4,956,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Insiders have sold a total of 81,788 shares of company stock valued at $20,054,837 in the last ninety days. Company insiders own 3.60% of the company’s stock.
Several equities analysts have weighed in on AVGO shares. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 target price on the stock in a report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $285.00 price target (up from $270.00) on shares of Broadcom Limited in a research report on Saturday, August 26th. B. Riley reaffirmed a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a research report on Thursday, August 31st. BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research downgraded Broadcom Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of “Buy” and an average target price of $277.81.
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Broadcom Limited 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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