Ardsley Advisory Partners acquired a new position in shares of Broadcom Ltd (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,000 shares of the semiconductor manufacturer’s stock, valued at approximately $1,029,000.
A number of other institutional investors also recently bought and sold shares of AVGO. HBK Investments L P purchased a new position in shares of Broadcom during the 4th quarter worth approximately $1,978,000. California State Teachers Retirement System increased its stake in Broadcom by 4.6% in the 4th quarter. California State Teachers Retirement System now owns 709,861 shares of the semiconductor manufacturer’s stock valued at $182,363,000 after purchasing an additional 31,195 shares in the last quarter. Premia Global Advisors LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $198,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom in the 4th quarter valued at approximately $410,000. Finally, HPM Partners LLC increased its stake in Broadcom by 8.2% in the 4th quarter. HPM Partners LLC now owns 8,509 shares of the semiconductor manufacturer’s stock valued at $2,186,000 after purchasing an additional 643 shares in the last quarter. 89.52% of the stock is owned by institutional investors.
In other news, insider Hock E. Tan sold 20,789 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $259.85, for a total transaction of $5,402,021.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Charlie B. Kawwas sold 1,051 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $277,863.38. The disclosure for this sale can be found here. Insiders have sold 84,481 shares of company stock worth $21,805,795 in the last 90 days. Insiders own 3.32% of the company’s stock.
Several research firms recently weighed in on AVGO. Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price objective for the company in a research note on Monday, November 27th. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective for the company. in a research note on Monday, November 27th. B. Riley reaffirmed a “buy” rating and issued a $315.00 price objective on shares of Broadcom in a research note on Monday, November 20th. BMO Capital Markets began coverage on Broadcom in a research note on Monday, November 20th. They issued an “outperform” rating and a $330.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Broadcom from $300.00 to $315.00 and gave the company a “top pick” rating in a research note on Monday, November 20th. Two research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $306.45.
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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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