Envestnet Asset Management Inc. lessened its position in Broadcom Limited (NASDAQ:AVGO) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,349 shares of the semiconductor manufacturer’s stock after selling 20,495 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Broadcom were worth $25,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC grew its position in Broadcom by 348.3% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock worth $1,051,000 after purchasing an additional 3,368 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Broadcom in the 2nd quarter worth $221,000. Osborne Partners Capital Management LLC grew its position in Broadcom by 5.5% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock worth $2,312,000 after purchasing an additional 499 shares during the last quarter. Principal Financial Group Inc. grew its position in Broadcom by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock worth $155,459,000 after purchasing an additional 83,929 shares during the last quarter. Finally, DSAM Partners London Ltd grew its position in Broadcom by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock worth $43,048,000 after purchasing an additional 93,890 shares during the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Several research firms have issued reports on AVGO. B. Riley restated a “buy” rating and issued a $315.00 price target on shares of Broadcom in a research report on Monday. Oppenheimer raised their price target on shares of Broadcom from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday. KeyCorp restated an “overweight” rating and issued a $320.00 price target (up from $290.00) on shares of Broadcom in a research report on Monday. BidaskClub lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, ValuEngine lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $290.42.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $260.03, for a total value of $5,200,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,383 shares of company stock worth $25,949,184. Company insiders own 3.60% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) opened at $263.61 on Tuesday. The company has a market cap of $107,550.00, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.05. Broadcom Limited has a 12-month low of $162.40 and a 12-month high of $285.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84.

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About Broadcom

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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