Broadcom Limited (AVGO) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Broadcom Limited (NASDAQ:AVGO) by 0.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,104 shares of the semiconductor manufacturer’s stock after purchasing an additional 236 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Broadcom worth $50,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom in the second quarter worth approximately $113,000. AllSquare Wealth Management LLC purchased a new stake in shares of Broadcom in the third quarter worth approximately $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom in the second quarter worth approximately $116,000. Tower Research Capital LLC TRC lifted its position in shares of Broadcom by 473.0% in the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 473 shares in the last quarter. Finally, Catamount Wealth Management purchased a new stake in shares of Broadcom in the second quarter worth approximately $140,000. 88.99% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. B. Riley increased their price target on shares of Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. BMO Capital Markets began coverage on shares of Broadcom in a research report on Monday, November 20th. They set an “outperform” rating and a $330.00 price objective on the stock. Loop Capital reaffirmed a “buy” rating and set a $302.00 price objective on shares of Broadcom in a research report on Friday, August 25th. SunTrust Banks reaffirmed a “buy” rating and set a $281.00 price objective on shares of Broadcom in a research report on Thursday, October 12th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $290.00 price objective on shares of Broadcom in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus target price of $291.42.
Broadcom Limited (NASDAQ AVGO) opened at $261.65 on Wednesday. Broadcom Limited has a twelve month low of $163.45 and a twelve month high of $285.68. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $110,790.88, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.05.
In other news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.
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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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