Bp Plc Acquires 2,000 Shares of Broadcom Ltd (AVGO)
Bp Plc raised its holdings in Broadcom Ltd (NASDAQ:AVGO) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 47,000 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,000 shares during the period. Bp Plc’s holdings in Broadcom were worth $12,094,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mountain Capital Investment Advisors Inc purchased a new position in Broadcom during the second quarter valued at approximately $113,000. AllSquare Wealth Management LLC purchased a new position in Broadcom during the third quarter valued at approximately $113,000. SeaCrest Wealth Management LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $124,000. Tower Research Capital LLC TRC grew its stake in Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in Broadcom by 59.0% during the third quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.
In related news, CFO Thomas H. Krause sold 656 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $264.38, for a total transaction of $173,433.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,789 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $259.85, for a total transaction of $5,402,021.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,674 shares of company stock valued at $22,659,390. Company insiders own 3.60% of the company’s stock.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.47 EPS. research analysts predict that Broadcom Ltd will post 17.41 earnings per share for the current year.
AVGO has been the subject of several recent analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $281.00 price objective on shares of Broadcom in a research note on Thursday, October 12th. KeyCorp reissued a “buy” rating and issued a $290.00 price target on shares of Broadcom in a research note on Tuesday, October 17th. Barclays boosted their price target on shares of Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Jefferies Group set a $286.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of Broadcom from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $301.33.
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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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