Quantitative Systematic Strategies LLC Has $1.05 Million Stake in Broadcom Limited (AVGO)
Quantitative Systematic Strategies LLC raised its stake in Broadcom Limited (NASDAQ:AVGO) by 348.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,335 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,368 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Broadcom Limited were worth $1,051,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Waldron LP acquired a new position in shares of Broadcom Limited in the first quarter worth $302,000. Stratos Wealth Partners LTD. raised its holdings in shares of Broadcom Limited by 86.9% in the first quarter. Stratos Wealth Partners LTD. now owns 3,279 shares of the semiconductor manufacturer’s stock worth $718,000 after acquiring an additional 1,525 shares during the last quarter. Advantus Capital Management Inc raised its holdings in shares of Broadcom Limited by 1.1% in the first quarter. Advantus Capital Management Inc now owns 40,464 shares of the semiconductor manufacturer’s stock worth $8,860,000 after acquiring an additional 452 shares during the last quarter. Marvin & Palmer Associates Inc. acquired a new position in shares of Broadcom Limited in the first quarter worth $2,430,000. Finally, Teachers Advisors LLC raised its holdings in shares of Broadcom Limited by 55.3% in the first quarter. Teachers Advisors LLC now owns 1,276,080 shares of the semiconductor manufacturer’s stock worth $279,410,000 after acquiring an additional 454,488 shares during the last quarter. 89.65% of the stock is owned by institutional investors.
AVGO has been the subject of a number of analyst reports. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price target for the company in a report on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $285.00 price target (up from $270.00) on shares of Broadcom Limited in a report on Saturday, August 26th. UBS AG reissued a “buy” rating and issued a $265.00 price target on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reissued a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Thursday, August 31st. Finally, BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $277.51.
Shares of Broadcom Limited (NASDAQ:AVGO) traded down 0.02% on Friday, reaching $244.24. The company had a trading volume of 2,354,761 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The company has a 50-day moving average price of $244.97 and a 200-day moving average price of $240.32. The firm has a market capitalization of $99.64 billion, a PE ratio of 186.02 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $2.89 earnings per share. Equities research analysts forecast that Broadcom Limited will post $15.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,788 shares of company stock worth $20,054,837. 3.60% of the stock is currently owned by company insiders.
Broadcom Limited 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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