Southpoint Capital Advisors LP lessened its position in shares of Broadcom Ltd (NASDAQ:AVGO) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,000 shares of the semiconductor manufacturer’s stock after selling 200,000 shares during the period. Broadcom makes up 5.2% of Southpoint Capital Advisors LP’s portfolio, making the stock its 6th biggest position. Southpoint Capital Advisors LP owned about 0.10% of Broadcom worth $109,183,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its position in Broadcom by 4.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,350,163 shares of the semiconductor manufacturer’s stock valued at $346,857,000 after acquiring an additional 53,921 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Broadcom by 0.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,853 shares of the semiconductor manufacturer’s stock worth $20,771,000 after purchasing an additional 656 shares in the last quarter. Union Bankshares Corp lifted its stake in shares of Broadcom by 7.6% during the fourth quarter. Union Bankshares Corp now owns 9,234 shares of the semiconductor manufacturer’s stock worth $2,372,000 after purchasing an additional 652 shares in the last quarter. Field & Main Bank acquired a new position in shares of Broadcom during the fourth quarter worth about $2,342,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Broadcom by 18.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,566 shares of the semiconductor manufacturer’s stock worth $3,775,000 after purchasing an additional 2,442 shares in the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.
In other Broadcom news, insider Hock E. Tan sold 20,789 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 997 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $243.88, for a total value of $243,148.36. The disclosure for this sale can be found here. Insiders sold 84,481 shares of company stock valued at $21,805,795 over the last 90 days. 3.32% of the stock is currently owned by insiders.
Shares of Broadcom Ltd (NASDAQ AVGO) opened at $253.78 on Monday. The firm has a market capitalization of $104,173.39, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. Broadcom Ltd has a 52-week low of $208.44 and a 52-week high of $285.68.
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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