Bp Plc cut its holdings in Broadcom Inc (NASDAQ:AVGO) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the semiconductor manufacturer’s stock after selling 2,000 shares during the period. Bp Plc’s holdings in Broadcom were worth $5,594,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Capital International Investors boosted its holdings in Broadcom by 504.1% during the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after acquiring an additional 22,955,578 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Broadcom by 26,295.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after acquiring an additional 11,904,869 shares during the period. FMR LLC bought a new stake in Broadcom during the second quarter valued at about $2,768,560,000. Bank of New York Mellon Corp bought a new stake in Broadcom during the second quarter valued at about $1,127,357,000. Finally, Capital Research Global Investors boosted its holdings in Broadcom by 16.3% during the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after acquiring an additional 3,608,395 shares during the period. Hedge funds and other institutional investors own 89.34% of the company’s stock.
In related news, CFO Thomas H. Krause sold 22,500 shares of the stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $257.08, for a total value of $5,784,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total transaction of $5,099,800.00. The disclosure for this sale can be found here. Insiders sold 79,723 shares of company stock valued at $20,347,374 in the last three months. Company insiders own 3.30% of the company’s stock.
NASDAQ:AVGO opened at $281.32 on Thursday. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $282.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. The stock has a market capitalization of $113.79 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.24 and a beta of 0.72.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $4.59 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Broadcom Inc will post 18.59 EPS for the current fiscal year.
A number of equities research analysts have issued reports on AVGO shares. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. JPMorgan Chase & Co. started coverage on shares of Broadcom in a report on Thursday, November 8th. They set an “overweight” rating and a $325.00 price target for the company. started coverage on shares of Broadcom in a report on Thursday, November 8th. They set a “buy” rating and a $310.00 price target for the company. Deutsche Bank restated a “buy” rating and set a $310.00 price target on shares of Broadcom in a report on Thursday, November 8th. Finally, ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a report on Saturday, November 10th. Nine equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Broadcom has a consensus rating of “Buy” and a consensus target price of $288.93.
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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