Broadcom Ltd (AVGO) Holdings Reduced by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware reduced its holdings in Broadcom Ltd (NASDAQ:AVGO) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,658 shares of the semiconductor manufacturer’s stock after selling 33,466 shares during the period. Broadcom makes up about 1.2% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 29th largest position. Mckinley Capital Management LLC Delaware’s holdings in Broadcom were worth $24,061,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. AllSquare Wealth Management LLC bought a new position in Broadcom in the 3rd quarter worth approximately $113,000. SeaCrest Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $124,000. Carroll Financial Associates Inc. increased its position in Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after buying an additional 220 shares during the period. FNY Partners Fund LP bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $154,000. Finally, Cable Hill Partners LLC increased its position in shares of Broadcom by 824.6% during the third quarter. Cable Hill Partners LLC now owns 638 shares of the semiconductor manufacturer’s stock valued at $155,000 after purchasing an additional 569 shares during the period. 88.46% of the stock is currently owned by institutional investors.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $244.40 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. The company has a market capitalization of $96,508.47, a price-to-earnings ratio of 57.37, a P/E/G ratio of 0.98 and a beta of 0.88. Broadcom Ltd has a one year low of $202.61 and a one year high of $285.68.
AVGO has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $290.00 price objective on shares of Broadcom in a research report on Tuesday, October 17th. Barclays boosted their price objective on Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Jefferies Group set a $286.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Wednesday, October 18th. Zacks Investment Research cut Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Sanford C. Bernstein set a $285.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $301.58.
In other Broadcom news, SVP Bryan Ingram sold 794 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total value of $205,328.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. In the last three months, insiders sold 86,674 shares of company stock worth $22,659,390. Insiders own 3.60% of the company’s stock.
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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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